Gautam Singhania, chairman of the Raymond Group, and his estranged wife Nawaz Modi (Wawz) have reached a "realistic" settlement in their ongoing divorce proceedings, according to several reports. The settlement amount has not been officially disclosed, but sources close to the couple suggest it is significantly lower than Modi's initial demand of a 75% share of the Singhania family's wealth.
The dispute between Singhania and Modi began in 2019 when Modi filed for divorce, citing "cruelty and mental harassment." The case quickly became one of the most high-profile divorces in India, with the media closely scrutinizing the couple's assets and personal lives.
The financial settlement is a key aspect of the divorce proceedings. Modi had initially demanded a substantial portion of the Singhania family's wealth, estimated to be around $1.4 billion. However, it appears that she has agreed to a more "realistic" settlement in order to finalize the divorce.
Details of the settlement remain confidential, but reports suggest it includes a lump sum payment to Modi, as well as provisions for her future financial security. It is also believed that Modi will retain some of the couple's shared assets, such as their properties and businesses.
The "realistic" settlement is likely to come as a relief to both parties, who have been embroiled in a bitter legal battle for several years. It allows them to move forward with their lives and avoid further public scrutiny.
Gautam Singhania and Nawaz Modi have reached a "realistic" settlement in their divorce proceedings. The financial terms of the settlement are confidential, but it is believed to be significantly lower than Modi's initial demand.The settlement allows both parties to move forward with their lives and avoid further public scrutiny.
[image credits: hindustan times,times now]
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