Chettinad palace feud takes big turn

Mr M.A.M.R. Muthiah alleges that the trio seems to have taken thumb impression of Mr Ramaswamy, who is admitted to Malar hospital, on blank papers and other unfilled forms with an intention to grab his properties and are creating documents for the same.

“They are intending to transfer shares held by my father in Chettinad Cement Corporation to the trusts run by Mr A.C. Muthaiah,” Chettinad group M D alleged in a statement.

Mr A.C. Muthiah, former Chairman of SPIC and cousin of turf baron Mr M.A.M. Ramaswamy, denied the allegations. “I deny everything that Mr M.A.M.R. Muthiah is saying. It’s an absolute lie. He is playing mean tricks to take advantage of the situation,” Mr A.C. Muthaiah told DC.

Recalling what Mr Ramaswamy had spoken about Mr M.A.M.R. Muthiah in a press conference held at the Chettinad House a few months ago, Mr Muthiah said, “As my cousin said openly that day, had M.A. M.R. behaved himself, he would have given all his wealth and property to him.”

The big fight between M.A.M. Ramaswamy and his former adopted son M.A.M.R. Muthiah had reached a crescendo in that vastly attended media event in which Mr Ramaswamy denounced M.A.M.R., who had manipulated to remove him from the chairmanship of the flagship company of the group, Chettinad Cement. Now that Mr Ramaswamy is sick, reportedly from a liver ailment, things are taking a serious turn.

At the press conference, Mr Ramaswamy had asserted that he was willing his wealth and property to a trust to be run under the chairmanship of his cousin Mr A.C. Muthiah. The assets under dispute, are likely to be worth several thousand crores. Mr Ramaswamy also has a 22 per cent stake in Chettinad Cement besides being India’s leading racehorse owner with hundreds of his thoroughbreds running in several turf clubs across the

country.