Gautam Singhania makes a veiled attack on Vijaypat Singhania, says unbending ones will fall by the wayside

New Delhi: Gautam Singhania, chairperson and Managing Director of Raymond Ltd, has made a  veiled attack on his father Vijaypat Singhania amidst widespread media news that veteran industrialist is now leading a hand-to-mouth life.

The senior Singhania, who now resides in rented row house in south Mumbai's upscale Grand Paradi society, had blamed his son Gautam for his deplorable financial condition, media reports said a couple of days ago.

In an interview to the ETNow, Gautam Singhania said that unbending people or people who are not going to change are going to fall by the wayside, apparently hinting at his father's accusations.

“Even a coconut tree swings to change. If you are rigid like a tree, you fall and break,” the Raymond current boss told ET in a curt reference.

Vijaypat Singhania has moved the Bombay High Court alleging that his son is refusing to fully honour an arbitration award over a property dispute among the family members.

However, the Bombay HC has suggested that Vijaypat Singhania and his son should try and resolve their property dispute amicably.

Raymond Ltd has not yet given him possession of a duplex in the multi-storey JK House building in south Mumbai as per the award, Vijaypat Singhania's petition said.

As per a 2007 family agreement, Vijaypat Singhania, his son Gautam, and the widow and two sons of Vijaypat's brother Ajaypat Singhania were to get a duplex each in JK House, a family property.

The court, while adjourning the hearing to August 22, said Raymond shall not create any third party rights (sell or lease out) in the two floors of JK House which are subject matter of dispute until further orders.