Former Raymond chairman Vijaypat Singhania died in Mumbai yesterday evening, his family announced. He was 87 years old. His son, Gautam Singhania, the current chairman and managing director of the group, announced the death on the microblogging platform 'X'.
His funeral will be held today. Vijaypat Singhania, who received the Padma Bhushan award, was also an avid aviator and held a world record for the highest altitude achieved in a hot air balloon. He served as the chairman of Raymond for two decades until 2000. After handing over the leadership of the company to Gautam, Vijaypat also transferred his entire 37% stake in the company to his son.