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TVS scions plan ‘family arrangement’

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Scions of the TVS household on Thursday agreed to subscribe to the phrases of a memorandum of household association with the goal of making certain that “the ownership of shares in various companies/ businesses should align and synchronise with the management of the respective” group corporations, the household’s members mentioned in separate filings to the inventory exchanges.

Group corporations together with Sundram Fasteners Ltd., TVS Motor Company Ltd., Sundaram Clayton Ltd., TVS Srichakra Ltd. and TVS Electronics Ltd. introduced the choice by the TVS relations to enter into the household association.

The listed corporations added that the association wouldn’t have an effect on the administration and functioning of the group corporations, in any approach.

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