New Delhi, Mar 21: Raymond Group Managing Director Gautam Singhania is recovering well after suffering minor injuries when a speedboat capsized near Fulidhoo in the Maldives, his team said on Saturday.

"He is doing well as of today," his team said in a health update.

A speedboat carrying seven people with five Indians, a British national and a Russian national, capsized on Friday.

“Gautam Singhania suffered minor injuries following an unfortunate accident. He is recovering under due care in Mumbai. We thank you for the wishes and pray for the well-being of the affected friends,” a spokesperson for Singhania said, reports NDTV Profit.

Two people, believed to be Indians, are still missing and search operation for them was underway, according to reports.

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"Maldives National Defence Force's Male' Area Command Coast Guard Second Squadron is searching for the missing individuals. The incident occurred about two nautical miles southwest of Keyodhoo," reported Edition MV, quoting Maldives National Defence Force (MNDF).

Singhania had shared the journey of Raymond Group on Thursday, saying, "A journey shaped by vision, craftsmanship, and a commitment to excellence. From humble beginnings to becoming an enduring symbol of quality and style, Raymond's legacy continues to stand the test of time."

Fulidhoo is a Maldivian island in Vaavu Atoll, known for its cultural events, marine encounters, diving spots and beautiful scenery including lagoons.

Raymond is a diversified business group with notable presence in the Textile & Apparel sector and segments such as consumer care, real estate, and engineering in national and international markets.

The Raymond Group has a significant hold over the B2B space through its garments business with its verticals such as Park Avenue, Raymond Ready to Wear, ColorPlus and Parx Ethnix.

“Raymond is the largest integrated textile company in the world and exports its suits to over 60 countries including the USA, Canada, Europe, Japan and the Middle East,” according to the company.

(IANS)