TVS family feud: Venu Srinivasan’s wife, daughter seek amicable resolution to business ownership dispute
TVS Motor Co. chairman-emeritus Venu Srinivasan's wife Mallika Srinivasan and their daughter Lakshmi Venu have reiterated their willingness to resolve the family’s dispute over the division of business interests through dialogue.
"As stated earlier in their joint statement, Dr Lakshmi Venu and Mallika Srinivasan reiterate their desire for an amicable resolution through transparent discussions and dialogue,” the spokesperson for the two said.
Their response comes amid a series of caveats filed by family members, including Venu Srinivasan and his son Sudarshan Venu.
The feuding members of the TVS Group have filed a total of eight caveats across two Chennai courts as the ownership dispute continues to hang over the Chennai-based business conglomerate, Mint reported earlier.
A caveat is a procedural safeguard that allows a party to be heard before a court passes any order on a petition filed or is expected to be filed by the opposing party. In the TVS family dispute, Venu Srinivasan and son Sudarshan Venu are on one side, while Mallika Srinivasan and daughter, Lakshmi Venu, are on the other.
On October 12, Venu Srinivasan filed the first caveat, naming Lakshmi and Mallika Srinivasan in the City Civil Court. The same day, Mallika Srinivasan filed a caveat, naming Venu and Sudarshan.
All four family members also filed caveats in the Commercial Court on the same day. The following day, Lakshmi Venu filed another caveat in the City Civil Court, naming her father, while Sudarshan Venu filed a case against his sister.
Differences between the family members reportedly emerged in April 2025, when TVS Holdings disclosed that Sudarshan Venu, Chairman and Managing Director of the flagship entity TVS Motor Company, has been 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 as a heir. She has also consistently sought discussions and dialogue to reach a fair settlement of family wealth, according to previous media reports.
The family signed a memorandum of understanding (MoU) in March 2024 covering 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," the members said, according to a report by PTI.
The family dispute comes against the backdrop of Venu Srinivasan's influence over the Tata Group, India's largest conglomerate. The non-executive director of the Tata Sons board backed its chairman N. Chandrasekaran for a third five-year term and supported taking the holding company public, positions that have put him at odds with most Tata trustees, including chairman Noel Tata.
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