G Srinivasan, TK Balaji resign from TVS Motor

CHENNAI: Gopal Srinivasan and TK Balaji, two directors of TVS Motor Company, have resigned from the board of the company, a company filing with the BSE said.
The filing also said that the two submitted their resignations on August 14 and that the board accepted their resignations. Gopal Srinivasan is the younger sibling of Venu Srinivasan, CMD of TVS Motor while TK Balaji is the brother-in-law of the TVS honcho.
"It is only for governance issues that we decided that the family members should step down from operating companies.Therefore, both Balaji and Gopal resigned from the board. We want to have professional and independent directors as we feel it is better from a governance standpoint and also makes the company significantly stronger. The family members will however be on the board of holding company," Venu Srinivasan told TOI.