April 15, 2024

Wade Through Films

The Ultimate Driving Machines

TVS Group set to announce restructuring of holding company, Auto News, ET Auto

TVSIS has stakes in multiple group companies, owned by third generation, all cousins.
TVSIS has stakes in a number of team organizations, owned by 3rd technology, all cousins.

CHENNAI: The $eight billion TVS team, between the biggest automobile components makers in the nation, could be close to finalising a relatives settlement in shareholding framework of the keeping enterprise Television set Sundram Iyengar & Sons (TVSIS), as conversations in the customers to simplify the interlocking ownership patterns have attained a finality.

Even though there is no dispute in the relatives and the settlement is entirely amicable, the thought is to hammer out a framework that will prevent opportunity upcoming disputes between following gen relatives customers regarding administration and ownership of team organizations.

TVSIS has stakes in a number of team organizations, owned by 3rd technology, all cousins. The senior most, Suresh Krishna, chairman of Sundram Fasteners is the chairman of the keeping enterprise. These conversations have been going on for about four-five a long time.

A TVSIS spokesman refused to remark on the issue. It is learnt that JM Money is dealing with the settlement. The contours of the settlement is not instantly recognized.

The restructuring will permit every relatives in the team to independent their share in team organizations and individual them independently. The thought is to simplify the holdings on the foundation of the ownership in team organizations. For case in point, TVSIS holds stake in the older lot of organizations like Sundram Fasteners, Sundaram Clayton, Lucas TVS, Wheels India between other folks.

Take Sundaram Clayton, managed by Venu Srinivasan. TVSIS holds approximately 19% stake while one more team enterprise Southern Roadways owns approximately fifteen% stake.

Sundaram Clayton for its component owns fifty seven.four% in TVS Motor, the group’s only B2C enterprise. Equally TVSIS owns just in excess of twenty five% in Sundram Fasteners, (managed by Suresh Krishna), while Southern Railways owns just in excess of 24%.

In Wheels India, managed by Ram Santhanam and his brother Viji Santhanam, the TVSIS stake is 20.four% while Southern Railways owns just in excess of 9%.

Other organizations such as TVS Tyres and India Nippon Electricals are run by 3rd technology relatives customers.

Study Also: TVS Srichakra Director P Vijayaragavan passes absent