The restructuring, which will involve nine listed companies, including TVS Motor, Sundaram Clayton, Sundram Fasteners, TVS Electronics and TVS Srichakra, among others, will give each family group complete ownership of businesses they manage while scrapping the holding company.
As part of the exercise, each family will get complete ownership of the businesses it manages while scrapping the holding company.
The $8.5 billion TVS Group received final approval for a family resettlement on February 4 from the National Company Law Tribunal (NCLT). It is an arrangement that is noteworthy because unlike many other corporate settlements this one was sorted out amicably and without any open conflicts.
Tata Group is in discussions with some major international companies, including those from Taiwan, for its foray into the semiconductor chip business. The Union government had earlier tried to bring in Taiwanese manufacturers Taiwan Semiconductor Manufacturing Company (TSMC) and United Microelectronics Corporation (UMC) for chip manufacturing in India. A person close to the development said the Tatas have now opened a separate channel for a possible tie-up. Currently, India mostly imports chips, which are fabricated and assembled to put into various applications, including automobiles, renewable power, mobile phones, televisions, and other electronic items.
The company denies any wrongdoing, but says that the negative media coverage has left it with no clients and mounting legal fees which has forced it to resort to closure.
In a post on Twitter on Wednesday, the 28-year-old also named the Janata Dal-United as a client during the 2010 Bihar elections and brought up some caste surveys carried out in Uttar Pradesh by SCL India -- the parent company of CA.
Lakshmi Venu, granddaughter of T S Srinivasan (TVS) and A Sivasailam (The Amalgamations Group), is managing director of Sundaram Clayton Limited (SCL) and director of TAFE Motors and Tractors Limited (TMTL).
After auto components major Bosch Ltd, Sundaram-Clayton, Hero MotoCorp now announce temporary production shut down
British data analytics firm Cambridge Analytica is at the centre of a controversy in India, the United States and Britain after two newspapers reported on Sunday that the company harvested personal data about Facebook users beginning in 2014. How does that matter, what does it entail and should you be worried? All these answers and more, explained right here.
It looks unlikely that a proper plan was in place or else the deaths could have been averted, reports Jyoti Mukul.
Christopher Wylie deposed before the House of Commons Digital, Culture, Media and Sport Committee amid an escalating row around alleged Facebook data breaches linked with the controversial UK-based company, which has also been linked with alleged attempts to influence elections in India.
Aleksandr Kogan, who created tools for Cambridge Analytica that allowed the political consultancy to psychologically profile and target voters, bought the data from the microblogging website in 2015, before the recent scandal came to light.
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