‘My Assets, My Liberty’: Venu Srinivasan Sets Record Straight Amid Asset Bifurcation Debate | Republic Business Exclusive

New Delhi: Amid ongoing saga over the bifurcation of his assets, Venu Srinivasan, Chairman Emeritus, TVS Motor Company, has said that the division of his assets was done on a fair basis. In a first and detailed statement issued exclusively to Republic Business, Srinivasan underlined that the bifurcation of his assets was carried out ‘openly, transparently, with the knowledge of and after careful consultation with my family’.

‘My Assets, I Had The Liberty To Deal With Them’

‘The businesses and assets were mine, and I had the full liberty to deal with it as I deemed fit, keeping in mind the best interests of the family members as well as the businesses. It is with this intent that I carried out a separation between Lakshmi and Sudarshan,” Srinivasan said.

Of his two children, Lakshmi is the Managing Director of SCL, a die-casting business, while Sudarshan Venu heads TVS Motor Company.

“Lakshmi was given to take forward and grow the SCL business, and Sudarshan was given to take forward and grow the motors business. The separation was always about ownership and control,” Srinivasan said, highlighting that each of his children ‘were given a fair share on which they were and are free to build,” Srinivasan said.

Everything Was ‘Open’ and ‘Transparent’: Venu

It may be noted that besides the other formalities executed between 2014 and 2024 to bifurcate the assets of Venu Srinivasan, the family signed a final MoU on March 20, 2024. Srinivasan said that the formalities were ‘carried out openly, transparently, with the knowledge of and after careful consultation with my family’

“It was accepted, implemented, and concluded after taking into account their views and interests,” he said.