TVS Group files scheme of amalgamation involving holding companies

Family agreement in December spelled shareholding on families that run the $8.5 billion group.

The $8.5 billion TVS Group on Thursday filed a composite scheme of amalgamation and arrangement involving its holding companies at the National Company Law Tribunal in Chennai.

Families that run the group on December 10 made an arrangement that spelled out share holding in T V Sundram Iyengar & Sons Private Limited (TVSS), Sundaram Industries Private Limited (SIPL) and Southern Roadways Private Limited (SRW). The three collectively became TVS holding companies.

The listed entities on Thursday informed stock exchange that the composite scheme of amalgamation and arrangement involving, inter alia, T.V. Sundram Iyengar & Sons Private Limited, Sundaram Industries Private