From The Economic Times · Kala Vijayraghavan and Arijit Barman · · 2m
TVS Family Split Over Business Division
TVS family feud intensifies as heirs clash over asset division and family MoU.
In brief
TVS family feud intensifies as heirs clash over asset division and family MoU. TVS family members disagree on whether a 2024 family MoU divided assets or just brand rights, with Lakshmi Venu seeking clarification on her share after failed mediation attempts. Originally reported by The Economic Times.
Family Dispute Emerges
Deep differences over inheritance have broken out between Venu and Mallika Srinivasan's children with differing perceptions on whether a family settlement has been reached.
Asset Division Clash
Venu Srinivasan and son Sudarshan align, while Mallika and daughter Lakshmi seek changes in how assets are divided among children.
Business Split
Sundaram Clayton (SCL) and TVS Motor Company are the two companies entrusted to next generation management with differing perceptions on asset division.
Market Cap Discrepancy
SCL has a market cap of Rs 24,000 crore while TVS Motor Co has a market cap of Rs 1.83 lakh crore as of Thursday's market close.
2024 Family MoU Dispute
People on Venu and Sudarshan's side say the MoU was a division of assets, while Mallika and Lakshmi's side say it only dealt with brand use and non-compete clauses.
Beneficial Ownership Shift
In April 2025, exchanges notified Sudarshan Venu became a beneficial owner in TVS Holdings, the parent of TVS Motor.
2020 Family Agreement
A December 10, 2020, family agreement formalized a split of holding structures to eliminate cross-holdings and align corporate ownership with family branches.
Asset Settlement Details
The Venu Srinivasan family inherited around Rs 2,000 crore of liabilities payable to other family branches through the 2020 settlement.
Lakshmi's Claim
Lakshmi Venu claims she received a better deal under the 2024 MoU and seeks clarification on her share after being met with silence from Venu and Sudarshan.
Family Settlement Claims
People close to Mallika say the family's wealth is separate from management and both siblings have equal rights over Venu Srinivasan family wealth.
TAFE Involvement
Mallika Srinivasan oversees TAFE, a tractor and farm equipment company founded by her grandfather, which she claims is not part of Venu Srinivasan's business empire.
Recent Boardroom Tensions
Tensions spilled into Sundaram Clayton's boardroom within three days of Venu Srinivasan taking over as chairman after a resignation decision was reversed.
The bottom line
TVS family members disagree on whether a 2024 family MoU divided assets or just brand rights, with Lakshmi Venu seeking clarification on her share after failed mediation attempts.
