TVS family to implement MFA through composite scheme of arrangement at NCLT
On December 10, 2020, an MFA was executed among various members of the TVS family who are shareholders of T V Sundram Iyengar & Sons (TVSS), Sundaram Industries (SIPL), and Southern Roadways (SRW). The three firms are collectively referred to as the TVS holding companies.
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Chennai-based TVS group said that the company has filed a composite scheme of amalgamation and arrangement (“Scheme”) with the National Company Law Tribunal, Chennai Bench (NCLT), in a regulatory filing on February 11.
The said scheme is being filed to implement the memorandum of family arrangement (MFA).