Mallika Srinivasan and her daughter Lakshmi Venu issued a joint statement on Monday, asserting that the Venu Srinivasan family has not reached an economic settlement over the division of TVS Group assets— a claim that counters the earlier 2020 family split that granted the family control over key companies.
In March 2024, a new Memorandum of Understanding was signed, renewing focus on the use of the TVS brand across the conglomerate’s diverse businesses, and bringing the family dispute into the spotlight.
The 2020 partition of the century‑old TVS Group divided assets among branches of the founder’s family; that agreement did not address the economic interests within the Venu Srinivasan line, which is the current source of contention.
The rift intensified when, in April of the same year, TVS Holdings disclosed that Sudarshan Venu, Venu Srinivasan’s son and chairman of TVS Motor Company, was named a significant beneficial owner— a move that further complicated the family’s claims over equity.
The joint statement clarified that the earlier 2020 division was a broader family settlement, not a specific economic resolution for the Venu Srinivasan lineage, and that no transparent valuation or mutual consent process has taken place within the family regarding their economic interests.
No final agreement has been announced, and the family is expected to convene in the coming months to determine the next steps in resolving the dispute.