Singhania had said that he only went into business at the behest of his father, Lala Kailashpat (L.K.) Singhania. He did not enjoy the subjects of
commerce and
economics as a student, and only came to appreciate them later in life when he was teaching postgraduate management classes at the
JBIMS. He has mused that he might have been better off becoming a
scientist or
engineer, since maths and science were his best subjects in school and he tended to get poor marks in everything else. His father Lala Kailashpat Singhania initially ran Raymond after the Singhania family purchased it from
E.D. Sassoon & Co. in 1944, when it was merely a textile mill. Singhania's cousin
Gopal Krishna (G.K.) Singhania took it over after L.K. Singhania's death in 1969. Vijaypat Singhania became chairman in January 1980, after G.K. Singhania's death. According to Singhania,
Hari Shankar Singhania, another of his cousins, was the one who initially wanted to take over Raymond after G.K. Singhania died. However, Singhania claimed that the senior executives threatened to quit at this prospect, saying they would only work for L.K. Singhania's eldest son. That happened to be Singhania, who at the time was running J.K. Chemicals, one of the
J.K. Organisation companies. He was initially disinterested in the Raymond chairman position as he was happy at J.K. Chemicals, but said he agreed to take it once he heard of the senior executives' views. During his time at the helm of Raymond, he led the company into having one of the best-known clothing brands in India, it being one of the most successful of any of the Singhania family companies for much of his tenure. He also expanded it into an industrial conglomerate, taking it from solely a woolen textile manufacturer to also producing
synthetic fabrics,
denim,
steel,
files, and
cement. This ran the company into trouble late in his chairmainship, however, as a recession affecting steel and cement cut deeply into the company's profits in 1996–97. Raymond put up several of its divisions for sale during this time. In September 2000, Singhania turned the Raymond chairmanship over to his son Gautam Singhania, who completed the sale of the company's synthetics, steel, and cement divisions early in his tenure, opting to retain the rest. Singhania stayed on as Chairman-Emeritus, in a non-executive capacity. In March 2007 he was nominated to be Chairman of the Governing Council at the
IIMA until 2012 (succeeding
N.R. Narayana Murthy). He had previously been on the board of the IIMA from 1991 to 2002. == Aviation ==