Mumbai, March 28 Former Raymond chairman Vijaypat Singhania died here on Saturday evening, his family said.
He was 87 years old.
His son, Gautam Singhania, who is currently the chairman and managing director of the group, announced the death on the microblogging platform 'X'.
Singhania passed away "peacefully" in Mumbai, and the final rituals will be performed on Sunday, a Raymond Group spokesperson said.
Vijaypat Singhania, who was awarded the Padma Bhushan, was also an avid aviator and held a world record for the highest altitude achieved in a hot air balloon.
He led Raymond as chairman for two decades until 2000. After handing over control of the company to Gautam, Vijaypat also transferred his entire 37% stake in the company to his son.
Vijaypat Singhania and his son were involved in legal disputes some years ago, but they eventually resolved the issues.
