New Delhi: Significant differences have surfaced within industrialist Venu Srinivasan’s family over the interpretation of ownership and succession arrangements in TVS Motor Company and its holding firm TVS Holdings Ltd, with matriarch Mallika Srinivasan learnt to be pushing for an amicable and equitable settlement between her children, industry sources said.
Mallika Srinivasan, mother of Lakshmi Venu and Sudarshan Venu, is encouraging dialogue within the family to reach a fair, amicable settlement of wealth, amid differences over ownership of business assets in the Venu Srinivasan family, industry sources said.
Venu Srinivasan, his wife Mallika Srinivasan, their daughter Lakshmi Venu, and son Sudarshan Venu represent the third and fourth generations of T V Sundaram Iyengar, the founder of the TVS Group.
Differences reportedly emerged within the promoter family in April 2025, when TVS Holdings disclosed that Sudarshan Venu, Chairman and Managing Director of the flagship entity TVS Motor Company, was named a Significant Beneficial Owner (SBO) through trust structures.
Daughter Lakshmi Venu, who heads Sundaram-Clayton Ltd (SCL), an automotive component manufacturing firm, is seeking her rights. She has also consistently sought discussions and dialogue to reach a fair settlement of family wealth, they said.
The family executed a memorandum of understanding (MoU) in March 2024; however, it covers the use of the TVS brand across different business segments and a non-compete agreement.
“While management of these businesses is clear, the MOU entered into in 2024 only deals with brand usage and non-compete. It does not deal with economic settlement or a valuation-based division of family wealth,” they said.
The family has yet to reach a settlement on the economic division of its wealth, with Mallika keen that all concerned engage in discussions to resolve the differences amicably, the sources said.
The Venu Srinivasan family controls key businesses, including TVS Holdings, TVS Motor Company, TVS Credit and SCL.
The TVS group did not respond to an e-mail by the time the story was filed.
Lakshmi has sought a fair settlement of the family’s wealth, citing the 2020 division of the larger TVS family business as a possible model for resolving the differences. In that arrangement, the broader TVS family divided assets after valuation and reached an agreement among its different branches.
In 2020, the 115-year-old TVS industrial group was divided among the different branches of the family of founder T V Sundaram Iyengar. The settlement involved valuing the assets, dividing them on mutually agreed terms and compensating family members. As part of the arrangement, the Venu Srinivasan family assumed control of key group companies.
Mallika is understood to be encouraging family members to sit together and work toward an equitable resolution rather than let the differences escalate.
No final settlement has been reached so far, the sources said.
The family members have not publicly announced any agreement resolving the differences over the division of wealth.
As per TVS Holdings’ annual report, the family/promoter holds 74.45 per cent stake in TVS Holdings Ltd. Venu Srinivasan holds 66.55 per cent among that through VS Trust.
