MUMBAI: Gautam Singhania, the chairman of Raymond Group, has been going through a tough time as he parted ways with his wife Nawaz Modi Singhania. After 32 years of relationship, the couple is no longer friendly with one another. The most recent sources state that following their divorce, Nawaz Modi demanded 75% of Gautam Singhania's wealth.

(Also read: Mumbai's socialite Nawaz Modi Singhania prefers to paint Hollywood stars over Bollywood)

Gautam Singhania's divorce will be difficult because his wife, Nawaz, has requested a divorce settlement that includes seventy-five percent of his net worth. In addition to ostensibly agreeing to the requirement, Gautam Singhania suggested establishing a family trust in which he would serve as the only managing trustee a proposal that Nawaz rejected. This information was reported by the popular news portal. 

Singhania reportedly suggested setting up a family trust, and he proposed transferring his assets and wealth to the trust so that his family members could get it after his death. Gautam Singhania is renowned for leading an extravagant lifestyle. As the chairman and managing director of the Raymond Group, the biggest manufacturer of suits in the world, he is a multibillionaire businessman. Gautam Singhania is estimated to have a net worth of USD 1.4 billion, or Rs. 11,658 crores, according to a report from a popular news portal.

Nawaz captured on camera the moment she was stopped from attending her husband Gautam's Diwali celebration, even though she had received an invitation. The video quickly went viral. Nawaz expressed her shock at the situation. However, within a few hours, Gautam Singhania announced on his social media account, X, that he and his 32-year partner were no longer together.

(Also read: Shocking! Gautam Singhania announces separation from wife Nawaz Modi, after the latter is barred from attending his Diwali party, watch viral video )

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Credit- Bollywoodshaadis