Chettinad feud: Muthiah wants father to stay away from business

"I'm ready to surrender to my father, but he's not ready for compromise," Muthiah says

MAMR Muthiah, son of former chairman of Chettinad Group MAM Ramasamy, said he was ready to compromise except for conditions that may “adversely” affect Chettinad Cements’ business, but his father was not willing to come forward to find a solution.

“It is either his way or no way. That’s the stand he is having,” Muthiah, who is the adopted son of Ramasamy, said. While Ramasamy was not available for comment immediately, he said his father had declined to be chairman emeritus of Chettinad Cement.

Speaking to reporters, Muthiah, who is managing director of Chettinad Cements, alleged a group of five-seven people was “poisoning” his father’s thoughts and not letting him find an amicable solution. “I am still not able to understand what is the problem. All I know is that he (Ramasamy) is angry with me. Unless he talks to me, how can I find a solution?,” asked Muthiah.

He added that at least 200 people, including seniors from the company, had tried to speak to his father to find a solution but the efforts did not fructify.

To his father’s allegation that he was trying to sell the Chettinad palace property here and also attempting to take away the assets, Muthiah said the palace was a heritage property and nobody could sell or buy it.  

And “as far as the assets go, I am the only son after him, and legally, everything would come to me only. So, why would I try to grab it,” he said.

“All I wanted is that he should not interfere in the business (Chettinad Cements). He should accept that he is old now. He should let the next generation run the business,” said Muthiah.

He claimed to have improved the company's market position, from a Rs 60-crore market capitalisation with 400 employees and one plant before taking over, to Rs 4,000 crore and 7,000 employees with seven plants.  

“I have put sweat and blood. Why should I let it go?” asked Muthiah, who claims his father was taking decisions that were against company’s interests, which is why, shareholders chose not to reappoint his father as chairman.

Muthiah and his family hold around 70 per cent in the company, his father Ramasamy 22 per cent and the rest of the shares are with the public.

On the company’s business, he said the last two years had been very difficult considering he was not focusing on the business due to “emotional pressure”.