Senior members have earlier said that present shareholders of the TVS holding companies
primarily consist of third and fourth generation family members of the original founder, TV Sundaram Iyengar.
With the passage of time, various members of the TVS family felt that the ownership of shares in various companies/ businesses should align and synchronise with the management of respective businesses.
Family members said this will preserve memories of the original founder, TV Sundaram Iyengar, and maintain the overall peace and harmony within the TVS family. The MFA has been executed among various members of the TVS family who are shareholders of the holding companies, including TVSS and SIPL.
The restructuring will give each family group complete ownership of businesses they manage while scrapping the holding company. According to the new terms, the family has agreed to scrap any cross-holdings. Share buyouts among the family members have already started.
The restructuring will involve nine listed companies, including TVS Motor, Sundaram Clayton, Sundram Fasteners, TVS Electronics
and TVS Srichakra, among others.
The family members will buy out shares of the TVS holding firms in their companies. This arrangement will not include Sundaram Finance as it is already de-linked from the holding companies.
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