TVS Holdings executes succession planning; Sudarshan Venu becomes significant beneficial owner

Time of India

27-04-2025

Kicking off the process of transfer of ownership of promoter shares in
TVS Holdings
, the promoter firm of
TVS Motor Company
, Sudarshan Venu has become a 'significant beneficial owner', according to regulatory filing by the company. Sudarshan Venu, Managing Director of
TVS Holdings
, is the son of
Venu Srinivasan
who is the Chairman and Non-Executive Director of the core investment company -- formerly known as
Sundaram-Clayton Ltd
-- and
TAFE
Chairman & MD Mallika Srinivasan.
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As per an RoC filing by TVS Holdings on April 23, 2025, both Venu Srinivasan and Sudarshan Venu are now 'persons acting in concert and significant beneficial owners' after an inter-se transfer between the promoters of the firm.
TVS Holdings owns 50.26 per cent in two and three-wheeler maker TVS Motor Company.
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Sudarshan Venu already leads TVS Motor Company as its Managing Director.
The latest development makes clearer the alignment of ownership and management of businesses between the children of Venu Srinvasan and Mallika Srinivasan and a continuation of a smooth execution of the
succession planning
initiated earlier.
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Last month Tractors and Farm Equipment Ltd (TAFE) had announced the appointment of Lakshmi Venu, the daughter of Mallika Srinivasan and Venu Srinivasan, as its Vice-Chairman.
In March 2024, an MoU (memorandum of understanding) was executed by Venu Srinivasan and his family members to avoid competition among themselves.
Under the MoU, Sudarshan Venu agreed that he and persons controlled by him would not use certain trademarks, including TVS, in relation to certain businesses including design, manufacturing and supply of aluminium and magnesium die castings/machined castings for OEMs and the after-market.
He had also agreed to not compete for a defined period, including in the business of agricultural machinery including tractors, and self-propelled farm equipment.
On the other hand, Mallika Srinivasan and Lakshmi Venu agreed that they and persons controlled by them would not use certain trademarks (including TVS) in relation to certain businesses, including two-wheeler and three-wheeler vehicles, financial services, and real estate business.
They have also agreed to not engage in certain businesses, including two-wheeler, and three-wheeler vehicles, parts and/or accessories for any such vehicles, for a defined period.