The ownership and management of TVS Holdings and Tractors and Farm Equipment Ltd (TAFE) are being restructured among family members to establish a clear succession plan within the business empire, according to sources.
Sudarshan Venu, Managing Director of TVS Holdings Ltd, continues to lead TVS Motor Company as it’s Managing Director and also serves as Chairman of TVS Credit Services, the Group’s Non-Banking Financial Services arm.
In a key development, Sudarshan’s sister Lakshmi Venu has been elevated to Vice-Chairman of TAFE. Lakshmi is currently a Director at TAFE.
Sudarshan Venu is the son and Lakshmi Venu is the daughter of Venu Srinivasan, Chairman Emeritus of TVS Motor Company, and Mallika Srinivasan, Chairman and Managing Director of TAFE.
The restructuring follows a Memorandum of Understanding (MoU) signed in March 2024 among family members to prevent internal competition. Under this agreement, Sudarshan Venu and entities under his control will not use specific trademarks, including “TVS,” for businesses related to aluminium and magnesium die casting and agricultural machinery.
Similarly, Mallika Srinivasan and Lakshmi Venu have agreed not to use the “TVS” trademark in the two-wheeler and three-wheeler businesses, financial services, and real estate. They will also stay out of the two-wheeler and three-wheeler vehicle sectors for a specified period.
With this MoU in place, the family’s business interests are now clearly separated. Sudarshan Venu will continue to lead TVS Holdings, overseeing TVS Motor, TVS Credit Services, Home Credit India, and TVS Emerald. Meanwhile, Lakshmi Venu is set to succeed Mallika Srinivasan at TAFE and will also take charge of Sundaram Clayton Ltd.
