(First published in The Business Standard: https://www.business-standard.com/industry/news/changing-colours-of-succession-india-inc-is-learning-to-deal-with-gennext-124060600969_1.html)
My take on Succession Planning and Family Arrangements, as quoted in Business Standard:
Professionalisation of the succession planning process is not just recommendatory but a necessity, since it involves a complex interplay between social, commercial, regulatory and tax parameters, says Binoy Parikh, executive director, Katalyst Advisors.
“One of the largest family settlements that we have recently advised on is the TVS Family Arrangement, which involved eight family branches, a plethora of shareholders, many listed and unlisted companies, and ultimately it was achieved through a combination of various agreements including memorandum of family arrangement, non-compete, brand agreement, and a complex scheme of arrangement involving mergers and demergers, among others,” he adds.