Chandrasekaran, Venu Srinivasan did not disclose family firm deal to Tata Sons board
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Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Tata Sons Chairman N Chandrasekaran and board member Venu Srinivasan did not disclose a business relationship involving Chandrasekaran’s family firm and TVS Motor to the Tata Sons board.
- ✓Experts now question if these deals, linked to projects worth ₹436 crore, represent a conflict of interest under the Tata Code of Conduct.
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- BUSINESS
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- Business Today
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- 2 Minute(s)
- Market Focus
- India Economy
Tata Sons Chairman N Chandrasekaran and Venu Srinivasan, a Tata Trusts nominee on the Tata Sons board, reportedly did not disclose a business relationship involving Chandrasekaran’s family-owned company and TVS Motor to the Tata Sons board or Tata Trusts.
According to a report in Livemint, Chandrasekaran’s wife Lalitha and son Pranav own Hanno One Warehousing Pvt. Ltd, which is developing a ₹330-crore industrial park in Karnataka to serve TVS Motor and its Tier-1 suppliers. Neither Chandrasekaran, nor Srinivasan disclosed the business relationship to Tata Sons.
Srinivasan is chairman-emeritus of TVS Motor and a Tata Trusts nominee director on the Tata Sons board. It was Srinivasan’s decisive vote that helped Chandrasekaran secure a third five-year term on September 17, a decision that has since been disputed by Tata Trusts that has termed it ‘legal nullity’.
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