(Image source from: Instagram.com/gautamsinghania99)
According to a report from The Economic Times, Nawaz Modi Singhania, the estranged wife of billionaire industrialist Gautam Singhania, is seeking 75 percent of his estimated $1.4 billion net worth in their divorce settlement. Her primary goal is to ensure the financial security of their two daughters, Niharika and Nisa. This request has sparked discussions about how the family's wealth will be divided in the future. While Gautam Singhania is open to considering Nawaz's demand, he has suggested the creation of a family trust to manage and transfer the family's assets. Under his proposal, he would serve as the sole managing trustee, and the assets would be inherited by family members after his death. However, Nawaz reportedly disagrees with this arrangement. The ongoing negotiations have involved the assistance of legal advisors for both parties, as highlighted in the ET report.
According to reports, Gautam Singhania is said to be receiving counsel from Haigreve Khaitan, a senior partner at Khaitan & Co, while Nawaz is believed to be represented by the Mumbai-based law firm Rashmi Kant. Akshay Chudasama, Managing Partner at Shardul Amarchand Mangaldas & Co., is reportedly trying to mediate between the couple in an effort to achieve a reconciliation or a resolution that both parties can agree on. The negotiations have been ongoing for a number of weeks, but no conclusive decisions have been made at this early stage, as stated in the report.