Gautam Singhania is the Chairman and Managing Director of the Raymond Group, the world's largest producer of worsted suiting fabric. He joined the family business in 1986 and helped restructure the group to focus on fabrics, apparel brands, and men's toiletries. Under his leadership, Raymond has pursued international partnerships and Singhania has an estimated net worth of $1.4 billion. In his personal life, he enjoys fast cars, boats and planes and has a collection of luxury vehicles.

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THOUGHT OF THE DAY
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Law Updates:
 COMPAT quashed penalty imposed by CCI on ‘Indian Jute Mills
Association’ and ‘Gunny Trade Association’: CAT New Delhi.
 Process of drawing wire from solid aluminium amounts to
"manufacture".
 Cash deposits in bank can't be held as undisclosed income without
verifying source of deposits: Tribunal Amritsar.
 Exporter can claim credit of duty paid to job-worker even if he
performs only testing and packing of goods.
 Apex Court raps HC for recalling order of 'Subarata Roy' which wasn't
an exparte order: Supreme Court.
PROFESSIONALS INPUTS:
 RBI vide Notification No. RBI/2016-17/8 dated 07th
July, 2016 has
seeks to discontinue the requirement of Reporting of Bank Guarantee
on behalf of service importers.
 RBI vide Notification No. RBI/2016-2017/11 dated 08th
July, 2016 has
made amendment to Master Direction on KYC – Operationalisation of
Central KYC Registry (CKYCR) and KYC norms for Foreign
Portfolio Investors (FPIs).
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Date:09th
July, 2016

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GAUTAM SINGHANIA
Chairman- Raymod Group
Gautam Hari Singhania is an Indian Industrialist. He is the Chairman
& Managing Director of the Raymond Group, the world's largest
producer of worsted suiting fabric
Early Life & Career Profile
Gautam Singhania was born in an industrialist family, to Vijaypat
Singhania and Ashabai Singhania.
Gautam Singhania joined the Singhania family's JK Group of companies
in 1986. He later joined the family's Raymond Group, becoming a director in 1990, the managing director
in July 1999, and the chairman in September 2000. He restructured the group and sold Raymond's non-
core businesses (synthetics, steel and cement). Under him, the group moved its focus to fabrics, apparel
brands, prophylactics and men's toiletries. He has also focused on international partnerships for Raymond,
including joint ventures with UCO Textiles of Belgium (denim) and Gruppo Zambaiti of Italy
(shirting). In 2005, Singhania opened a nightclub named Poison in Bandra, with DJ Aqeel. As of 2012
Singhania's net worth is estimated to be around $1.4 Billion. Singhania is currently constructing
a skyscraper ten stories taller than the Antilia constructed by Mukesh Ambani. The 30 story mansion,
called JK House, will be a combination of a private residence and textile showroom.
Personal Life
Gautam Singhania is married to Nawaz Modi Singhania, a Parsi. The couple has a daughter named
Niharika (born December 2005).
He has suffered from vitiligo (loss of skin pigmentation) since a young age. Its progression accelerated
when he was in his early 30s, as a side effect of medication.
Hobbies
Gautam Singhania is passionate about fast cars, boats, planes and nightclubs. He has driven a Formula 1
car in France, a Ferrari 360 Modena in a road and track rally across Europe, and a Lamborghini
Gallardo in Europe's Cannonball Run. He has also formed the first ever super car club in India. Singhania
owns M Y Ashena, a tri-deck luxury yacht constructed entirely out of Burma Teak wood. The yacht was
designed by traditional boat builders from a village in Gujarat. In relation to the construction of the boat,
he faced trial for cutting 586 trees on his estate in Thane. The Ashena was later used by Liz Hurley for
her wedding. He also owns the luxury yacht Moonraker, a traditional three-masted Arabian
sailing dhow Shazma, four speedboats named after the James Bond
movies Octopussy, Goldfinger, Thunderball,Golden Eye, and some other speedboats called Smokin
Joe and Raymond. Singhania also owns a Bombardier Challenger 604 business jet and three helicopters[