TVS group firms settle cross holding of shares
The Hindu
Family members complete settlement
Various members of the TVS family on Friday announced changes in ownership patterns of group firms following the completion of the family arrangement approved by the National Company Law Tribunal (NCLT).
A composite scheme of amalgamation and arrangement was filed by group firms with the Chennai Bench of the NCLT. The scheme became effective on January 6, 2022, and the second appointed date was February 4.
The family settlement was entered into by group firms including T.V. Sundram Iyengar & Sons Pvt. Ltd., Sundaram Industries Pvt. Ltd., Southern Roadways Pvt. Ltd. and TVS Sundram Fasteners Pvt. Ltd. (TPL), among others.
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