AC Muthiah trying to grab assets: MAM's son

CHENNAI: As MAM Ramaswamy , former chairman of the Chettinad group of companies, battles for life in hospital, his adopted son MAMR Muthiah, who is the managing director of the group, has accused AC Muthiah, former chairman of SPIC and Ramaswamy's cousin, of trying to usurp Chettinad group's assets by cheating his bedridden father.

Ramaswamy , 85, was admitted to Fortis Malar Hospital with liver and kidney ailments and was said to be in "critical" condition on Wednesday .

"My father is not conscious.He is not in a position to take any decisions on his own. I am regularly visiting my father ever since and during my absence and taking advantage of my father health, AC Muthiah and ARL Sunderesan (advocate), with the help of Dr Madan Mohan of Fortis Malar Hospital, seem to have taken thumb impression and signatures of my father on blank papers and other unfilled forms with a motive and intention to grab property and make an illegal gain and to grab my father's movable and immovable properties and creating documents," MAMR Muthiah said in a statement.

MAMR Muthiah and Ramaswamy have been involved in an acrimonious and publicly fought dispute, the genesis of which appears control of a vast estate and differences in style of management. While the father, also known as the Raja of Chettinad, was more traditional, almost feudal, in his approach, the scion has a more professional outlook.

In June this year, Ramaswamy had announced that his cousin A C Muthiah was the heir to the Chettinad legacy.

"He (MAMR Muthiah) is playing mean tricks. His father (also my cousin) had told me that Muthiah had misbehaved and cheated him. Had he (MAMR Muthiah) been patient, he would have got all the family assets. I don't know why he is now doing all this," AC Muthiah told TOI. A C Muthiah and Ramaswamy's grandfathers were brothers. A C Muthiah said he was only helping his cousin to consolidate all the assets under a trust, the beneficiary of which is Ramaswamy.

Born in a Chettiar family , MAMR Muthiah, previously called Ayyappan, was adopted by Ramaswamy in 1996 when he was in his 20s. He has been at the helm of affairs since the late '90s. Tensions erupted two years ago when Ramaswamy accused his adopted son of surveillance and attempts to curtail his activities. MAMR Muthiah said that A C Muthiah has approached Kotak Securities to transfer 91.83 lakh shares held by Ramaswamy to the trust administered by him.