Vijaypat Singhania, former Raymond chairman, passes away at 87 in Mumbai
Singhania led Raymond for two decades, expanded the business, and earned accolades in aviation and adventure, including a world hot air balloon record
Former Raymond chairman Vijaypat Singhania died in Mumbai on Saturday evening, his family confirmed. He was 87.
His son, Gautam Singhania, the current chairman and managing director of the Raymond Group, announced the death on the microblogging platform X. A Raymond Group spokesperson said that the last rites will be performed on Sunday.
Vijaypat Singhania, a recipient of the Padma Bhushan, was also a keen aviator and held a world record for the highest altitude gained in a hot air balloon.
He led Raymond as chairman for two decades until 2000. After handing over the reins of the company to Gautam, Vijaypat also transferred his entire 37 per cent stake in the company to his son.
Singhania and his son were embroiled in legal disputes some years ago, but later the issues were reportedly settled.
Corporate leadership and legacy
Singhania occupied a rare space in the storied world of corporate chieftains. His leadership of Raymond since 1980 as chairman and managing director, more than a decade before the economic liberalisation of 1991, ensured that the textile brand withstood pressures unlike many legacy brands.
On the business front, he expanded Raymond into synthetic fabrics, denim, steel, industrial files, and cement, forging a diversified industrial conglomerate.
In March 2007, he was appointed chairman of the governing council of the Indian Institute of Management, Ahmedabad, a role he held until 2012.
Aviation and adventure pursuits
The sky was literally the limit for the adventure and aviation enthusiast. Singhania undertook risky maneuvers beyond the boardroom, winning accolades in both business and adventure.
In November 2005, at age 67, he set a world record by ascending to approximately 69,000 feet in a hot air balloon. Earlier, in 1988, he set a speed-over-time endurance record for microlight aircraft, flying solo from London to New Delhi over 23 days.
The Indian Air Force made him an honorary air commodore in 1994, recognising over 5,000 hours of flying. In 2006, he was appointed the sheriff of Mumbai.
Public life and recognition
Singhania’s pursuits in business and adventure earned him India’s third highest civilian honour, the Padma Bhushan, as well as the Tenzing Norgay National Adventure Award.
Although he handed over the Raymond Group to Gautam in 2000, he continued to remain active in public life for years, though his appearances had become rare in recent times.
(With agency inputs)