Venu Srinivasan Family Disputes TVS Group Asset Division
Lakshmi Venu and Mallika Srinivasan claim no economic settlement exists for TVS Group assets, contradicting Venu Srinivasan's assertions of a fair separation.
A dispute over the economic ownership of the TVS Group has emerged between industrialist Venu Srinivasan and his daughter, Lakshmi Venu, and wife, Mallika Srinivasan. In a joint statement issued October 12, 2026, Lakshmi and Mallika Srinivasan declared that no final economic settlement or equitable division of business assets has been reached within the family. They rejected claims that a March 2024 memorandum of understanding constituted a division of assets, describing it instead as a limited agreement on brand usage and non-compete clauses.
Conversely, Venu Srinivasan asserted that the businesses and assets belonged to him and that he had the authority to deal with them as he saw fit. He maintained that a fair separation between Lakshmi and Sudarshan Venu had already been implemented. This tension follows a series of corporate restructurings between 2021 and 2023 and a shift in beneficial ownership. While Venu Srinivasan declared himself the sole beneficial owner of the VS Trust and Srinivasan Trust in December 2023, he added his son, Sudarshan Venu, as a second beneficiary in April 2025.
Lakshmi Venu, who exited the board of Sundaram Clayton in August 2023, argues that management roles must not be confused with economic ownership. She further clarified that her role at Tractors and Farm Equipment (TAFE) does not waive her claims to the TVS Group, as TAFE is part of the separate Amalgamations Group. The family remains divided over whether a transparent valuation and mutual consent process for asset division has occurred.
