No economic settlement reached in TVS family asset split: Mallika Srinivasan, Lakshmi Venu
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- ✓Mallika Srinivasan and Lakshmi Venu said on Monday that no economic settlement was reached in the TVS family asset split.
- ✓They countered claims of a fair arrangement, noting that "management responsibilities must not be confused with economic ownership." The two asserted that their rightful ownership interests still remain unresolved today.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Financial Express
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
A day after TVS Motor Chairman Emeritus Venu Srinivasan told Republic Business that the division of business interests between his children was a carefully considered and fair succession arrangement, his wife Mallika Srinivasan and daughter Lakshmi Venu on Monday asserted that no economic settlement had been reached within the family and that their rightful ownership interests remained unresolved.
In a joint public statement that brought into sharp focus the differences within one of India's most prominent business families, Mallika and Lakshmi countered Srinivasan's contention that the businesses and assets were his to allocate and that the separation had been undertaken transparently, after consultations with family members.
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