The chairman and managing director of Cadila Pharmaceuticals, Rajiv Modi, and his wife Monica Garware were granted a divorce on Tuesday on mutual consent. The divorce decree ended their 26 years of marriage and the court waived off six months mandatory separation period as the corporate honchos have been staying separately since 2012. The divorce is touted as the most expensive matrimonial separation in Gujarat with Rajiv having had to pay a whopping Rs 200 crore to his wife as the settlement amount.
Reports suggest that Monica has resigned from all her positions in Cadila and she is no more a shareholder in any of Modi’s company. Moreover, the custody of their son will remain with the father. However, Monica will have visitation rights to meet her son.
“Modi has paid the sum of Rs 200 crore to Garware through a bank draft as mutually agreed by the couple. Now, Garware does not have any rights or authority over any property owned by Modi,” informed Monica’s advocate Sudhir Nanavati, as reported by DNA.
Monica, reportedly, called the police on August 29 alleging that she was beaten up by her husband and was being harassed for three years. Following which, Modi was summoned at Sola police station and was facing action for cruelty and domestic violence. This was followed by an almost six-hour counselling session at the police station and a settlement was reached later, in which the two decided to settle the case with a divorce. Read More