Stories
No Ownership Settlement Exists at TVS Group Claim Lakshmi Venu and Mallika Srinivasan
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CNBC TV18•12-10-2026, 19:46
No Ownership Settlement Exists at TVS Group Claim Lakshmi Venu and Mallika Srinivasan
- •Lakshmi Venu and Mallika Srinivasan claim there is no economic settlement or split of assets in place within the Venu Srinivasan family of the TVS Group.
- •Lakshmi expressed shock upon learning through media reports that her father Venu Srinivasan and brother Sudarshan Venu were classified as significant beneficial owners of TVS Holdings.
- •They clarify that the 2024 family memorandum of understanding was only a limited-term agreement covering brand use and non-compete clauses, not an economic asset settlement.
- •Both leaders emphasize that management responsibilities at TAFE and Sundaram Clayton should not be confused with a division of family economic ownership.
- •They are calling for a fair, consensual, and transparently negotiated resolution through constructive dialogue to address rightful economic ownership.
Key Questions Answered
Lakshmi Venu and her mother Mallika Srinivasan claim that no economic settlement or asset division has been reached within the Venu Srinivasan family, contradicting Venu Srinivasan's view that the 2024 MoU constituted a completed asset separation.
The 2024 MoU was a limited-term agreement that established brand usage guidelines and non-compete clauses across different business segments, but it did not cover an economic settlement or split of assets.
They argue that holding leadership and management responsibilities at TAFE or Sundaram Clayton does not equate to a division of family assets or an equitable distribution of economic interests.
