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From Ambanis and <keyword id="261423" type="COMPANY" weightage="100" keywordseo="Adanis">Adanis</keyword> to <keyword id="3686670" type="UNKNOWN" weightage="20" keywordseo="premjis">Premjis</keyword> and <keyword id="242899" type="ORGANIZATION" weightage="20" keywordseo="Khorakiwalas">Khorakiwalas</keyword>, several generation-next leaders of India's leading family-run businesses have joined crorepati club when it comes to their salaries and other perks. 
 
With a number of corporate houses promoting sons and daughters of their promoters to leadership positions, many of these companies have begun giving hefty remuneration packages to them for their "increased responsibilities" and "active involvement" in exploring new business opportunities, as per a news report by an agency. 
 Still, the annual pay of these next-generation leaders remains relatively low, as against the overall average payout of over Rs 20 crore for CEOs of India's top-listed companies forming part of <keyword id="6484188" type="CITY" weightage="20" keywordseo="Sensex">Sensex</keyword> and only a fraction of the same in the US at close to $20 million (about Rs 130 crore). 
 <keyword id="6369979" type="COMPANY" weightage="20" keywordseo="Gujarati">Gujarati</keyword> industrialist <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>'s son <keyword id="443" type="ENTERTAINMENT" weightage="20" keywordseo="Karan">Karan</keyword>, who was appointed CEO of <keyword id="1016113" type="UNKNOWN" weightage="20" keywordseo="Adani-Ports-and-Special-Economic-Zone-Ltd">Adani Ports and Special Economic Zone Ltd</keyword>, did not draw any remuneration from the company for fiscal 2015-16, but the board has approved an annual remuneration for him of up to Rs 1.5 crore, including salary, perks and other benefits, with effect from September 1, 2016. 
 
As Chairman and Managing Director of the company, Gautam Adani got total remuneration of Rs 2.8 crore in 2015-16, while Whole Time Director Malay Mahadevia got Rs 10.7 crore. 
 In case of <keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>'s son <keyword id="141180" type="PERSON" weightage="20" keywordseo="Anmol">Anmol</keyword>, who was recently appointed as Director on the board of the group's financial services arm <keyword id="6360090" type="CITY" weightage="20" keywordseo="Reliance-Capital">Reliance Capital</keyword>, the company has proposed a salary of Rs 10 lakh per month. 
 Reliance <keyword id="36749" type="ORGANIZATION" weightage="20" keywordseo="capital">Capital</keyword> will seek shareholders' approval on the upcoming AGM on September 27 for various proposals, including <keyword id="3591294" type="PERSON" weightage="20" keywordseo="Anmol-Ambani">Anmol Ambani</keyword>'s appointment as Executive Director for a period of five years as well as for the remuneration to be paid. 
 
In the shareholders' notice, the company said his salary would be Rs 10 lakh per month. 
 In addition to the salary, perquisites and allowances, he will also be entitled to receive commission based on next profit of the company. Anmol,24, has been working in various financial services businesses within Reliance Capital since 2014 and has a degree from <keyword id="174907" type="ORGANIZATION" weightage="20" keywordseo="Warwick-Business-School">Warwick Business School</keyword> in the UK. 
 Salaries of <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>'s children -- <keyword id="8372" type="PERSON" weightage="20" keywordseo="Akash">Akash</keyword> and <keyword id="2464" type="PERSON" weightage="20" keywordseo="Isha">Isha</keyword> -- could not be ascertained, though they are said to be playing key roles in <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword> group's telecom and retail ventures. 
 <keyword id="267060" type="PERSON" weightage="20" keywordseo="Sudarshan-Venu">Sudarshan Venu</keyword>, son of TVS Motor's <keyword id="130465" type="PERSON" weightage="20" keywordseo="Venu-Srinivasan">Venu Srinivasan</keyword>, got annual remuneration of Rs 9.59 crore for 2015-16, while the company last month sought shareholders' approval for revising his remuneration as Joint Managing Director. 
 
Explaining the proposal, the company said in its AGM notice, "The board reviewed the remuneration payable to him after taking into consideration his active involvement in all spheres of management for exploring business opportunities both in India and abroad and felt that, JMD can be compensated by way of enhanced commission. 
 
"The board was of the opinion that the existing remuneration was considerably inadequate, when compared with the industry norms and similarly placed senior management personnel of the company."

The new generation of Ambanis
and Adanis joins the crorepati club

<ul><li><keyword id="10131833" type="General" weightage="20" keywordseo="ultraviolette" source="Orion">Ultraviolette</keyword> has raised ₹112.5 crore (approximately $15 million) from TVS and Zoho Corporation, as per regulatory filings.</li><li>The company will use the latest Series C fund to launch its F77 high-performance electric motorcycle.</li><li>TVS had first invested in Ultraviolette back in 2017 and has been increasing its shareholding in the company since then.</li></ul>Indian multinational automotive company TVS and software-as-a-services (SaaS) giant Zoho Corp have announced their investment in electric two wheeler company <keyword id="6792726" type="General" weightage="20" keywordseo="ultraviolette-automotive" source="Orion">Ultraviolette Automotive</keyword>. According to Ministry of Corporate Affairs filings, Ultraviolette has raised ₹112.5 crore (approximately $15 million) from TVS and Zoho Corporation. Its valuation is estimated to be $200 million as per Inc42. The company has not officially confirmed the financial details of this transaction. The company will use the latest Series C fund to launch its F77 high-performance electric motorcycle, which is currently in the final stages of testing. It expects to launch the electric vehicle (EV) in the first half of 2022. The Bengaluru-based startup had first showcased the electric motorcycle in November 2019 and it has received over 50,000 booking requests so far. ‘’What impressed me most about Ultraviolette is their approach towards building the EV experience in the country -- one that is focused on high performance, disruptive design and technology, and superior user experience, all built and developed right here in India. There is no doubt that the future of mobility is electric, and innovation has to be at the forefront of product disruption,” Zoho Corporation’s founder and chief executive (CEO) Sridhar Vembu said. Ultraviolette Automotive was founded in 2016 by Narayan Subramaniam and Niraj Rajmohan. It develops sustainable mobility and energy infrastructure. The company has raised over $20 million to date from marquee investors like Speciale Invests, GoFrugal’s Kumar Vembu. TVS had first invested in Ultraviolette back in 2017 and has been increasing its shareholding in the company since then. Sudarshan Venu, Joint Managing Director at TVS Motor Company, said, “EVs are a huge focus area for us and we have invested in this area for over a decade. TVS is committed to developing exciting and aspirational products and we have always believed that EV development has to be ground-up for us to make that quantum leap into the global EV revolution.” SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/after-giving-up-on-90-minute-delivery-five-years-ago-due-to-lack-of-profitability-grofers-is-now-chasing-10-minute-delivery/articleshow/88253221.cms" data-type="tilCustomLink">After giving up on 90-minute delivery five years ago due to lack of profitability, Grofers is now chasing 10-minute delivery</a> <a href="https://www.businessinsider.in/business/telecom/news/ussd-mobile-banking-charges-trai-vs-airtel-vodafone-idea/articleshow/88249773.cms">TRAI’s push to make mobile banking services via USSD free faces stiff opposition from Airtel, Vodafone Idea</a> <a href="https://www.businessinsider.in/stock-market/news/shares-of-tega-industries-list-at-753-while-the-shares-were-allotted-at-453-per-share/articleshow/88249181.cms">Tega Industries meets its GMP of ₹300 and lists at 66% premium</a>

TVS Motor, Zoho invest in Ultraviolette ahead of its F77 electric motorcycle launch

<ul><li>Indian two-wheeler major TVS Motor announced the acquisition of Norton Motorcycles via a Singapore-based subsidiary at the height of the ongoing novel coronavirus crisis worldwide. </li><li>The deal may remind one of the $2.3 billion acquisition of the then cash-strapped Jaguar Land Rover by Tata Group in June 2008, a few months before the global financial crisis exploded with the crash of Lehman Brothers. </li><li>Both Tata Motors (in 2008) and TVS Motor (now), saw their respective deals as a marker for their prominence in the global arena. </li><li>Pride, price, and potential may have driven TVS Joint Managing Director Sudarshan Venu to pick up Norton. However, investors will hope that he has considered the context and chronicles.</li></ul>One is known for its cars and trucks, the other is known for its two-wheelers and autorickshaws but both TVS Motor and the Tata Group seem to like a good deal in the UK even if it is in times of a crisis. Indian two-wheeler major TVS Motor announced <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/43211357-97f8-4319-a40e-00ec88bf46a9.pdf" data-type="tilCustomLink" target="_blank">the acquisition of Norton Motorcycles</a> via a Singapore-based subsidiary at the height of the ongoing novel coronavirus crisis worldwide. The deal may remind one of the $2.3 billion acquisition of the then cash-strapped <a href="https://www.tatamotors.com/press/tata-motors-completes-acquisition-of-jaguar-land-rover/" data-type="tilCustomLink" target="_blank">Jaguar Land Rover (JLR) by Tata Group in June 2008</a>, a few months before the global financial crisis exploded with the crash of Lehman Brothers. <div type="image" title="TVS Motor share price." msid="75218088" hostid="261" caption="&amp;lt;p&amp;gt;TVS Motor share price chart.&amp;lt;/p&amp;gt;"></div> Both Tata Motors (in 2008) and TVS Motor (now), saw their respective deals as a marker for their prominence in the global arena. "This will be one of the most interesting acquisitions of a storied motorcycle maker in recent times and will reflect TVS Motor Company’s and India’s rapidly rising prominence in the international two-wheeler market," a company statement said on April 17, 2020. <div type="image" title="Bengaluru: TVS Motor Company Chairman Venu Srinivasan speaks during the launch o..." msid="75217804" hostid="261" caption="&amp;lt;p&amp;gt;TVS Motor Company Chairman Venu Srinivasan speaks during the launch of the TVS iQube electric scooter, in Bengaluru.Photo/Shailendra Bhojak) (&amp;lt;/p&amp;gt;"></div> Norton Motorcycles was born in 1898, <a href="http://nortonmotorcycles.com/company/history/" data-type="tilCustomLink" target="_blank">founded by James Lansdowne Norton</a>, in Birmingham and is among the most popular British motorcycle brands of all time with a product mix ranging from classic models to an eclectic range of luxury motorcycles including super-bikes. <div type="image" title="Norton_Dominator_650SS" msid="75217860" hostid="261" caption="&amp;lt;p&amp;gt;Norton_Dominator_650SS 1968. Source: Wikimedia Commons&amp;lt;/p&amp;gt;"></div> Pride, price, and potential may have driven TVS Joint Managing Director Sudarshan Venu to pick up Norton. However, investors will hope that he has considered the context and chronicles. <div type="image" title="venu" msid="75217892" hostid="261" caption="&amp;lt;p&amp;gt;Sudarshan Venu Joint Managing Director TVS Motor Company at the launch of TVS Apache RR 310 in Chennai. 2017, Credits: BCCL&amp;lt;/p&amp;gt;"></div> <table style="width: 607pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:89pt">Parallels</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 247pt;">Tata Motors' acquisition of JLR</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 271pt;">TVS Motos' acquisition of Norton </td> </tr> <tr> <td class="xl67" style="height: 45.75pt; border-top-width: initial; border-top-style: none; width: 89pt;">Product and factories</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 247pt;">Both “Jaguar” and “Land Rover” were still “great brands with advanced manufacturing units unlike Tata Motors</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 271pt;">Norton is still an iconic brand and is known for premium motorcycles.</td> </tr> <tr> <td class="xl67" style="height: 30pt; border-top-width: initial; border-top-style: none; width: 89pt;">Timing</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">The acquisition came just before the global financial crisis exploded</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 271pt;">The deal was struck at the height of the coronavirus pandemic</td> </tr> <tr> <td class="xl67" style="height: 30pt; border-top-width: initial; border-top-style: none; width: 89pt;">Post-deal scenario</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 247pt;">Sales plunged in the wake of the 2008 crisis and JLR turned profitable only in 2010-11</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 271pt;">Sales are likely to be slow even in the post-Covid world and the rest is too soon to predict</td> </tr> <tr> <td class="xl67" style="height: 45pt; border-top-width: initial; border-top-style: none; width: 89pt;">Health of the acquirer</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 247pt;">Tata Motors was profitable at the time and had a healthy balance sheet but the company ended posting a loss right after acquisition. JLR's metal mostly came from Corus which was also owned by Tatas.</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 271pt;">TVS Motor has a weaker balance sheet compared to its peers right now with an estimated debt of ₹1800 crore, according to Kotak Institutional Equities and a market cap of ₹14,000 crore.</td> </tr></tbody></table>TVS has promised to help Norton "regain its full glory", just like the Tata group turned around JLR and ran it profitable for about six straight years before the markets turned for the worse. <div type="image" title="BI152" msid="75217951" hostid="261"></div><div type="Article" hostid="261" msid="73044706" title="Jaguar Land Rover is staring at a sales ‘hattrick’ it didn’t want" mstype="2" mssubtype="0"></div> Since 2010, when JLR turned profitable for the first time since its acquisition, Tata Motors has invested about £25 billion in the company generating a profit of £7.9 billion, and free cash flow of £1.3 billion, according to research by BloombergQuint in February 2020. JLR has been struggling for about two years now and <a href="https://www.businessinsider.in/business/news/coronavirus-sp-downgrades-tata-motors-ratings-outlook-stable/articleshow/74958763.cms" data-type="tilCustomLink" target="_blank">the future doesn't look very exciting either</a>. <div type="image" title="Mumbai: Rohit Suri, President and Managing Director, Jaguar Land Rover India Ltd..." msid="75217869" hostid="261" caption="&amp;lt;p&amp;gt;Rohit Suri, President and Managing Director, Jaguar Land Rover India Ltd (JLRIL) during the launch of new Land Rover Discovery Sport at Mumbai Port Trust.Photo)(&amp;lt;/p&amp;gt;"></div> It is not necessary that the future of JLR and Norton be similar. However, aside from the quirks specific to the company and the product it sells, there are a couple of broader, contextual factors that are common for both British brands, and they impact the prospects of their owners, Tata Motors and TVS Motor respectively. The uncertainty of a post-Covid world has dwarfed the debilitating risks of Brexit, which was a significant threat by itself, is common for both the Tata Group and the Venu family. TVS has its own issues to deal with too. "We have cut our earnings estimates by 16-35% for FY2020-22.. and cut our fair value to Rs240 (from Rs350 earlier)," a Kotak Institutional Equities report said in April 2020 projecting a fall in sales in India due to the Covid-19 outbreak and sharp rise in costs due to the roll out for more stringent emission norms called BS-VI. Kotak set the target price for the stock at Rs 240 compared to Friday's closing of about Rs 300. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/hindustan-ambassador-has-been-redesigned-into-a-swanky-electric-car-by-dilip-chhabria-dc2design/articleshow/74966143.cms" data-type="tilCustomLink" target="_blank">Good ol’ ambassador has been redesigned into a swanky electric car</a> <a href="https://www.businessinsider.in/business/news/strongly-support-measures-announced-by-rbi-to-revive-economy-tvs-motor/articleshow/75199047.cms" data-type="tilCustomLink" target="_blank">Strongly support measures announced by RBI to revive economy: TVS Motor</a> <a href="https://www.businessinsider.in/business/auto/article/hero-moto-share-price-is-at-a-six-year-but-exports-karizma-and-xtreme-sports-can-help/articleshow/74190134.cms" data-type="tilCustomLink" target="_blank">Hero Moto share price is near a six-year low because of its Indian, middle class obsession</a>

TVS Motor and the Tata⁠ Group have something in common— the lure of struggling British icons

<ul><li>The iconic British bike manufacturer <keyword id="5965268" type="UNKNOWN" weightage="20" keywordseo="Norton-Motorcycles">Norton Motorcycles</keyword> has been acquired by <keyword id="87196" type="COMPANY" weightage="20" keywordseo="TVS-Motors">TVS Motors</keyword>.</li><li>The company has said that it will help Norton <keyword id="6388987" type="UNKNOWN" weightage="20" keywordseo="motorcycles">Motorcycles</keyword> regain its ‘full glory’.</li><li>Norton Motorcycles will continue manufacturing from its existing UK facility.</li></ul>Indian bike maker TVS Motor acquired Norton Motorcycles, one of the oldest British bike manufacturers. In fact, Norton Motorcycles has seen the turn of two centuries already, as it was founded in 1898 in Birmingham. Norton Motorcycles is well known for its bikes which range from classic models to luxury motorcycles including super-bikes. The acquisition could put TVS Motor on the world map, much like the acquisition of Jaguar Land Rover in 2008 helped Tata Motors gain global prominence. You might be wondering what’s so special about Norton Motorcycles that TVS acquired it in the midst of the ongoing Coronavirus pandemic. What makes Norton such a valued venture? Is it just price or pride, or is there more to it? Let’s find out. Norton Motorcycles was founded in 1898 as a bicycle parts supplier <div type="image" title="Norton" msid="75251549" hostid="261" caption="&amp;lt;p&amp;gt;Source: Wikimedia Commons&amp;lt;/p&amp;gt;"></div> Norton Motorcycles was founded in 1898 by James Lansdowne Norton. For the first few years, Norton supplied bicycle parts. It wasn’t until 1902 that the company started building its own motorcycles. The first Norton bike was the Energette, powered by a 143cc engine that was sourced from Belgium. Norton took the next major leap in 1907 when it built its own engine – the iconic Big Four with 633cc capacity. It was so successful that it remained in production for nearly five decades. The last Norton bike with the Big Four engine was sold in 1954. It supplied the British army during the World Wars <div type="image" title="Norton" msid="75251577" hostid="261"></div> By the time the first World War was underway, Norton had gained a reputation for making sturdy motorcycles. It supplied the British army during both the World Wars. In the second World War, a quarter of the bikes used by the British army were Nortons. Dominator, Commando, Manx – some of the legendary Norton motorcycles Over its long history, Norton has come out with several legendary motorcycles. The Norton Manx set the race tracks on fire – it recorded two hat-trick podium finishes at the iconic Isle of Man Tourist Trophy in 1950. The Commando range set sales records on fire with over 5 lakh units sold in a decade. Apart from hot sales and speed, Norton is also known for its simplicity and elegance. Norton’s ownership changed more than five times since its founding Norton Motorcycles is more than 100 years old now, and it has seen several ownership changes throughout its history. The first time Norton experienced financial troubles was in 1913, just before the first World War. The company found a lifeline thanks to RT Shelly and Company. In 1953 as the motorcycle industry went into a recession, Norton faced its next major challenge as major shareholders started to quit. It was eventually acquired by Associated Motor Cycles. Subsequently, Norton Dominator Twins and Norton Atlas kept the company’s sales strong. Over the next few years, Norton went through a reformation and renamed Norton-Villiers. Another British brand BSA-Triumph was also going through financial difficulties. The UK government stepped in to merge Norton and BSA Triumph. A few decades later, Norton was acquired by Canada’s Wildrose Ventures in 1993. However, within a year, it was sold to another company Aquilini Investments. Until 2008, Norton was under American ownership. It was bought by Stuart Garner, a UK-based businessman in 2008. In January 2020, Norton went into liquidation. In April 2020, TVS Motor Company announced the acquisition of Norton Motorcycles. TVS says it will help ‘Norton to regain its fully glory’ Announcing the completion of acquisition on April 17, TVS Motor’s joint managing director Sudarshan Venu said, “This is a momentous time for us at TVS Motor Company. Norton is an iconic British brand celebrated across the world and presents us with an immense opportunity to scale globally.” “We will extend our full support for Norton to regain its full glory in the international motorcycle landscape,” Venu further added. Why is Norton important for TVS? Owning a classic motorcycle brand or range is quite a rage these days, as the successful comeback of Royal Enfield has proved. For TVS, the Coronavirus pandemic has presented the perfect opportunity to combine price, pride and potential in a single package -- that is Norton Motorcycles. While the price and pride factors are understandable, the potential with Norton is limitless. “It is a brand which gives us a huge opportunity to scale up and create value,” Venu said. Beyond this, TVS also appears intent on maintaining Norton’s distinctive identity. It will continue with the existing Norton employees and the manufacturing will continue at the existing Donnington Park facility in the UK. See also: <a href="https://www.businessinsider.in/business/corporates/news/tvs-motor-acqusition-of-norton-motorcycles-uk-is-like-tata-motors-buying-jaguar-land-rover-jlr/articleshow/75216719.cms">TVS Motor and the Tata⁠ Group have something in common— the lure of struggling British icons</a> <a href="https://www.businessinsider.in/business/news/strongly-support-measures-announced-by-rbi-to-revive-economy-tvs-motor/articleshow/75199047.cms">Strongly support measures announced by RBI to revive economy: TVS Motor</a>

Here’s everything you need to know about Norton Motorcycles – the latest acquisition by TVS Motor

Her paternal grandmother, Kokilaben, stood by husband Dhirubhai but never joined him as he redefined the boundaries of Indian entrepreneurship. Her father’s sisters, or her aunts, were married early into business houses, with little discussion about joining the business: Dipti into the Salgaocar family and Nina into the Kothari family. Her mother, Nita, broke the mould somewhat and has done a fair bit on the business end of the group. But Isha Ambani, 22, is poised to redraw the family-business construct for Reliance women scions. 
 
Last week, ET reported the only daughter of Reliance Industries owner Mukesh Ambani had joined global consultancy McKinsey in the US. Isha, a Yale graduate in psychology and South Asian studies, had joined her father at the Reliance annual general meeting in Mumbai last year. While the company declined comment, corporate observers say the McKinsey stint is probably a stepping stone to larger things in the family business empire. 
 Across India Inc, more and more women scions can be seen at the frontline of their family business. There are some who have made a mark: like Nisa <keyword id="6369697" type="COMPANY" weightage="40" keywordseo="Godrej">Godrej</keyword> and Tanya Dubash at the Godrej Group. There are some who are asserting themselves: like Radhika Piramal, the 34-year-old, Harvard-educated managing director of VIP Industries. 
 
And there’s a new lot stepping in: like 30-year-old Gursimran Mann, managing director of Simbhaoli Sugars, and the first woman in four generations of the family to play a hands-on role in its business. According to business historian Gita Piramal, who is also the mother of Radhika Piramal, 20 years ago, she predicted it would take two generations before Indian women in the family business became the done thing. “I find it has taken one generation to do so,” she says. 
 
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Three Pivots Of Change 
 
“It is a belated effect of what is happening in society,” says Ashvini Chopra, MD &amp; CEO of Universal Trustees, a firm that helps business families in succession planning. When it comes to women in business, this change pivots around three aspects. 
 
The first is education. “Parents who would typically give professional education, including overseas exposure, only to their sons are now also encouraging daughters,” says Prabir Jha, chief HR officer, Reliance Group, speaking in general and not in reference to the Ambani family. “Their entry into business responsibilities is then a logical corollary.” 
 
Secondly, family size is shrinking. Joint families are becoming nuclear, resulting in a fall in the number of male heirs. “In many families it’s a father and son and daughter like situation. And daughters are the heir apparent,” says Kavil Ramachandran, Thomas Schmidheiny Chair professor of family business and wealth management at Indian School of Business. “Also many families are realising that girls are as good as, or better than, boys in performance.” 
 
For some like Sulajja Firodia Motwani, vice-chairperson of Kinetic Engineering, all this was a given. “A combination of a good atmosphere at home, freedom to do what we wanted and treating daughters like sons encouraged me to get into the family business,” she says. While she feels this is how it should be, Piramal says it’s still not the case in all families and inequalities manifest themselves in many forms. “We are only half way there,” she says. “There are several prominent business families where daughters are not at the forefront of handling businesses in terms of true equality.” 
 
That leads to the third pivot of change: an amendment in the Hindu Succession (Amendment) Act, in 2005, which removed gender discrimination in inheritance in Hindu joint families. Previously, only the male line, down to the great-grandson, had inheritance rights. The amendment gives women an equal share in the family business. “Even women married before 1994 can come back and claim equal rights into the family business as well as inherited assets,” says Sameer Tapia, senior partner at ALMT Legal. 
 

	But the exciting, radical change is happening in operations, and Tapia offers some sense of its magnitude. “We have at least 40 per cent family-business clients where women are playing an active role in the family business, and are part of crucial strategy or execution teams.” And many, like the four women profiled here, are leaving an imprint. 
	 

	 
	 
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Through the Ranks 
 
Unlike many, if not most, women scions in India, Lakshmi Venu had a point of reference on the gender question. Her mother, Mallika Srinivasan, is the chairperson and chief executive of tractor company Tractors and Farm Equipment Limited. But Lakshmi, 31, gravitated towards the businesses managed by her father, Venu Srinivasan—auto-component company Sundaram-Clayton and two-wheeler firm TVS Motor. In 2010, Lakshmi was inducted as director-strategy and whole-time director of Sundaram-Clayton. In May 2011, she was also made vice-president in charge of global business strategy at Sundaram-Clayton. 
 
It capped close to a decade of her involvement with the family business. Back in 2003, Lakshmi joined as a management trainee in Sundaram Auto Components. She also did stints in business strategy, design, corporate affairs, and sales and marketing at TVS Motor. Lakshmi declined comment for this profile. 
 
But senior auto industry professional RL Ravichandran, who has worked in a senior position in TVS Motors, says Lakshmi was interested in the business from early on. Even with her impeccable academic qualifications, he adds, she earned her way through various roles. “(It’s why)…there was no resistance from employees when she was inducted on to the board.” 
 
Speaking on the condition of anonymity, a senior TVS manager who interacts with Lakshmi describes her as “level-headed” and “business-like”. She currently manages the entire component business, which includes die cast, rubber, plastics and seats. “She is handling the business well and it is showing results,” he adds. Unlike Lakshmi, brother Sudarshan Venu, 24, had an easier entry into Sundaram-Clayton, joining its board in 2011. 
 
According to VG Ramakrishnan, managing director of Frost &amp; Sullivan, a consultancy, it’s a good sign when scions spend time in the business rather than being parachuted into it. “Children are being groomed to take over executive roles and responsibilities right from the beginning as part of effective succession planning,” he says. “It shows the progressive nature of these companies.” 
 
 In 2011, Lakshmi married Rohan Murty, son of <keyword id="6354512" type="CITY" weightage="40" keywordseo="Infosys">Infosys</keyword> co-founder Narayana Murthy. Her lineage aside, she is seen as a leader in her own right. Anil Singhvi, founder and director of Institutional Investor Advisory Services, a proxy shareholder advisory firm, has been baying against the tendency of business families to induct women scions into the board simply to meet the new rule of minimum women representation. But for Lakshmi, he says: “She is competent to take the business forward.” 
	 

	 
	 
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When a 21-year-old Bhairavi Jani returned from the US in 2000, after a year of working as a supply-chain consultant in KPMG’s Washington DC office, she battled two stereotypes as she tried to make her mark in the male-dominated Indian logistics business industry: gender and age. “There were people who did not want to work with me, who thought I was probably amusing myself for a few years before being married off,” she says. “And then there were customers, even MNCs, who refused to give business to a young woman, who they were sure would fail miserably at logistics planning.” 
 
Her father had thrown her into the deep end, and told Jani to learn to swim. Instead of making her a part of Blue Dart, his flagship before he sold it to DHL in 2004, Tushar Jani stumped his elder daughter by asking her to set up her own venture. “His view was that people from family-owned businesses tend to take things for granted,” says Jani, now 34. “Going through the pain of setting up a venture would teach me two things: never be afraid to take risks and value what it takes to sustain a business.” 
 So, Jani set up i3pl, to provide end-to-end logistics services to corporate clients. After initially struggling for business, i3pl obtained its first client in M&amp;M, and subsequently signed up British Petroleum, Sara Lee and <keyword id="60299" type="CITY" weightage="40" keywordseo="Walt-Disney">Walt Disney</keyword>, among others. Jani roped in partners in 2003 and, in a planned exit, sold out to them in 2005. 
 
That same year, Jani assumed the role of group director for the SCA Group, which has four verticals: warehousing, supply chain technology, cargo handling and freight forwarding, and shipping, respectively. At present, she provides strategic and operational guidance, operating as a link between the board and professionals; she also directs new projects and is in charge of joint ventures and alliances. 
 
Jani set up the warehousing vertical, via a company called Transmart India, in 2007. Percy Dhunjisha, a former CFO of Blue Dart Express and a person who had worked closely with her father, was her mentor there. He describes her as a searching and questioning manager. “Bhairavi’s management style is, forethought is better than afterthought,” he says. “She does not accept things as they are presented, but will often probe enough with questions to determine whether there is an alternate way of doing things and whether the same has been considered before arriving at the solution presented.” 
 
At SCA, she has her father’s backing. “Daughters are as astute and sharp in financial management, balance sheet and P&amp;L [profit and loss] accounting, says Tushar Jani. “I have always believed in that. Therefore, Bhairavi has always been given full charge of our projects and companies, including P&amp;L responsibility. And like any CEO, she has been answerable to the board.” 
 

	Gender and age still come up in conversations, though. Even today, there are few women in the logistics industry, and Jani still has to face issues of equality with male colleagues and work-life balance. “But I am confident that women in leadership roles in business will pick up sharply,” she concludes. 
	 

	 
	 
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Set up in 1933, Simbhaoli Sugars has seen four generations of the Mann family nurture it. But in that journey, women from the family, though present as shareholders and promoter-directors, were conspicuously absent on the frontline. Gursimran Mann, belonging to the fourth generation, changed that. 
 In 2005, just 21 and out of college, she joined Simbhaoli— a business with inert appeal to the young and a workforce in which women made up less than 1%. In doing so, she was turning her back on options available to her like consulting and investment banking. She even considered joining a consumer products or an agri-trading company, having done internships with Nestle, <keyword id="76102" type="COMPANY" weightage="40" keywordseo="Cargill">Cargill</keyword> and ED&amp;F Man. 
 
“It was my decision,” says Mann. She grew up in the Simbhaoli factory compound, in rural Uttar Pradesh, listening to conversations about the business and watching sugar being made. “This background, combined with my training in economics, made me realise the opportunity that existed for me to help grow the business further.” The only child, she did not immediately start reporting to her father and chairman Gurmit Mann. Joining as a trainee, Mann worked in various departments—factory, farm operations and trading —reporting to different people. 
 
“My promotions were not on auto mode,” she says. After completing her MBA from London Business School, Mann became an executive director in 2012 and managing director in July 2013. At Simbhaoli, she counts among her achievements increasing asset utilisation, partnering with global sugar trading company ED&amp;F Man, setting up sugar refinery on the Gujarat coast to tap the import-export play, reducing the cyclical nature of the sugar business by pushing the power and the alcohol business, building a consulting vertical that advises other companies on all things sugar, and raising new capital from private equity. “She has taken the challenge to professionalise the business,” says Devin Narang, India MD of Singapore-based PE fund Sindicatum, which has invested in the company. 
 

	For Mann, it’s all in a day’s work. “There is an overall social and cultural change, leading to a change in mindset among business families regarding acceptance of daughters to take charge,” she says. 
	 

	 
	 
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The middle of three daughters, Arathi Krishna was the first women in her family to join the business, in 1989, when she was just 20. “I had an easy transition into the company,” says Krishna, now joint managing director of auto-component major Sundram Fasteners. “I was easily accepted by employees.” Acceptance from the industry has followed. The 45-year-old spearheads the Rs 2,651 crore company’s domestic business. 
 “This is a logical succession,” says Sonu Iyer, partner &amp; diversity and inclusiveness leader, <keyword id="151258" type="CITY" weightage="40" keywordseo="Ernst-Young-India">Ernst &amp; Young India</keyword>, a consultancy. “The daughters [younger sister Arundathi is in charge of overseas operations and business development] have grown up in an entrepreneurial set up, and it’s only natural for them to be entrepreneurs and also do it better.” 
 
According to Arathi, her parents gave her an environment to flourish and the freedom to choose. “There was no difference between a son or a daughter,” she says. “My parents are very progressive, willing to take risks and pushed us to pursue our interests. But they never pushed us into the business.” Arathi did an MBA from the US. She stayed on, first to work in automotive strategy with a consulting company and then with Sundram Fasteners for five years. “I knew I would, at some point, come back and join the business,” she says. 
 
“So, I took up jobs in the US that were related to the business. I wanted to make myself worthy when I came back to join the business.” Arathi returned to India in 2006, and became joint MD in 2011. Arathi counts among her achievements making the workforce at Sundram Fastners younger, and the work culture more performance-based and technology oriented. Around 2005, the average age of the Sundram workforce was 40 years; it’s now down to 35 years. 
 
In her earlier years, at industry meets, Arathi would feel out of sorts in what was essentially a man’s world. “But then, I felt it was tougher to work in a Japanese or a Korean company,” she says. At present, 10% of Sundram’s workforce is made of women. “We have always believed in equality at the workplace. We are promoting more women to join the manufacturing ranks in the company.”

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