Sundaram Clayton Board Reverses Decision To Relieve Company Secretary
Venu Srinivasan, Chairman Emeritus and Managing Director has been re-designated as Chairman and Managing Director of the Company with immediate effect
By : Sangeetha G
Update: 2026-04-02 18:27 GMT
Chennai: Sundaram Clayton, a group company of the TVS Group, has withdrawn its decision to relieve P D Dev Kishan as Company Secretary and Compliance Officer and the appointment of M Muthulakshmi as Company Secretary and Compliance Officer.
“We wish to inform you that subsequent to the above intimation, the Board of Directors, at its meeting held on 30th March 2026, reconsidered the matter, and after detailed deliberations, basis the withdrawal of the resignation by P D Dev Kishan, the Board rescinded and withdrew the relieving of P D Dev Kishan as Company Secretary and Compliance Officer and the appointment of M Muthulakshmi as Company Secretary and Compliance Officer,” the company informed BSE.
“Accordingly, P D Dev Kishan will continue until 5th April 2026, and thereafter as well as the Company Secretary and Compliance Officer of the Company and remains a Key Managerial Personnel, without any break in service,” it added.
On March 27, the company had informed the exchange that P D Dev Kishan will be relieved of his duties as the Company Secretary and Compliance Officer of the Company with effect from 5th April 2026.
Based on the recommendation of the Nomination and Remuneration Committee of the company, the board had also approved the appointment of M Muthulakshmi as Company Secretary and Compliance Officer of the Company with effect from 6th April 2026. This decision has been revoked in the subsequent board meeting.
According to a report by The Economic Times, differences between chairman Venu Srinivasan and his daughter Lakshmi Venu have come into focus following a series of rapid boardroom developments.
The board also informed that R Gopalan has stepped down from his position as Chairman of the Company with immediate effect and will continue as Non – Executive Independent Director of the Company.
Consequent upon R Gopalan stepping down as Chairman of the Company, Venu Srinivasan, Chairman Emeritus and Managing Director has been re-designated as Chairman and Managing Director of the Company with immediate effect.