Gopal Srinivasan-Led TVS Faction On A Consolidation Drive

They may have gone their separate ways. That has not stopped them from finding themselves in news pages. A quiet consolidation is happening around different constituents of the erstwhile TVS Group. Latest action is coming from Gopal Srinivasan (brother of Venu Srinivasan)-led branch of the erstwhile TVS Group. TVS Investments Private Ltd and TVS Electronics are to amalgamate, signalling a consolidation.  The National Company Law Tribunal (NCLT) has initiated the merger process by directing the company to seek the shareholders’ approval. TVS Investments is a holding company of TVS Electronics. In March last year, three listed companies of Venu Srinivasan group — TVS Motor Company, TVS Holdings Ltd and Sundaram Clayton Ltd — had filed identical communication with the stock exchanges on an arrangement between family members — Venu Srinivasan, his wife Mallika, their son Sudarshan and daughter Lakshmi. Though it was a non-compete pact between them, it signalled succession planning.  In the middle of last month, Sundaram–Clayton announced that its board has approved a proposal to sell its aluminium die-casting business at its Hosur plant in Tamil Nadu to third-party purchasers.  Post family separation, myriad branches within the larger erstwhile TVS are charting their own business strategies. Indeed, each one is unleashing a new energy. Lots more to look out for in the coming days, it appears.