Former Raymond chairman Vijaypat Singhania died here on Saturday evening, his family said. He was 87.His son Gautam Singhania, the group’s current chairman and managing director, announced the death on the microblogging platform ‘X’.Singhania passed away “peacefully” in Mumbai, and the last rites will be performed on Sunday, a Raymond Group spokesperson said. Vijaypat Singhania, a recipient of the Padma Bhushan, was also a keen aviator and held a world record for the highest altitude gained in a hot air balloon.He led Raymond as chairman for two decades till 2000. After handing over the reins of the company to Gautam, Vijaypat also transferred his entire 37 per cent stake in the firm to his son.Vijaypat Singhania and his son were embroiled in legal disputes some years ago, but later settled the issues.