The 72-hour U-turn: Inside the boardroom drama at Sundaram Clayton

On Friday, the board of directors of TVS Group had accepted the resignation of company secretary PD Dev Kishan, citing “personal reasons”. But the board rescinded the decision in a hastily held meeting on Monday, with a notice sent on Sunday night. Srinivasan, 73, also took over as chairman of Sundaram Clayton from retired bureaucrat R Gopalan, raising questions about decision-making processes at the company, which is part of the South Indian business conglomerate.