The MoU does not in any way impact the business of TVS Motor Company, Venu Srinivasan, chairman emeritus, said a letter to the company on Friday.
Under the agreement, Venu Srinivasan's son Sudarshan Venu, managing director of TVS, and persons controlled by Sudarshan will not use certain trademarks in relation to businesses, including design, manufacturing and supply of aluminium and magnesium die castings/machined castings for OEMs and the after-market.
Sudarshan has also agreed to not compete for a defined period including in the business of agricultural machinery such as tractors, and self-propelled farm equipment.
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