The Venu family filed a total of eight caveats in Chennai courts, split evenly between the City Civil Court and the Commercial Court, on October 12 and 13, 2024.
Venu Srinivasan and Sudarshan Venu named Lakshmi Venu in their caveats, while Mallika Srinivasan and Lakshmi Venu named Venu Srinivasan in theirs, each filing on the same day to pre‑empt potential civil suits.
According to court records, the caveats were filed under Section 148A of the Code of Civil Procedure, a defensive step that requires the court to hear the caveated party before proceeding with any related application.
Lakshmi Venu, the vice‑chairperson of TAFE and managing director of Sundaram‑Clayton, holds 0.82% of TVS Holdings directly, while Mallika Srinivasan, chairperson of TAFE, holds 0.29%, as disclosed in exchange filings.
The dispute revolves around an earlier Memorandum of Understanding signed on March 21, 2024, which the parties claim formalised the division of assets, assigning Lakshmi Venu to Sundaram‑Clayton and Sudarshan Venu to TVS Motor.
No substantive move has been reported in TVS Motor’s share price on the NSE following the caveat filings, and the company’s board has deferred any dividend announcement pending resolution of the family dispute.