STOCK MARKET BSE NSE

TVS family to synchronise ownership structure in firms

The members of the TVS family have agreed to subscribe to the terms of a memorandum of family arrangement to align and synchronise the ownership of shares in various group companies.

Published: 11th December 2020 02:48 AM  |   Last Updated: 11th December 2020 12:29 PM   |  A+A-

TVS Motor Company

TVS Motor Company (Photo | PTI)

By Express News Service

NEW DELHI: Venu Srinivasan, TVS Motor Company chairman and MD, said on Thursday that the members of the TVS family have agreed to subscribe to the terms of a memorandum of family arrangement to align and synchronise the ownership of shares in various group companies.

"This arrangement shall not affect the management and functioning of the Company in any way, and we expect to continue business in ordinary course without impacting  any of the stakeholders. Furthermore, the terms of the family arrangement do not envisage any royalty or brand usage payments from the operating businesses/ companies to the TVS Family members/ their holding companies," said Srinivasan in a regulatory filing. 

He added that the senior members of the TVS family would deliberate to implement the family arrangement. At present, the various businesses/entities of the group have been traditionally managed by members of the different branches of the TVS family. The present shareholders of the TVS holding companies primarily consist of the third and fourth generations of founder TV Sundaram Iyengar. 



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp