Foster son in Chettinad family stokes a palace feud again

CHENNAI: The foster son of MAM Ramaswamy, the octogenarian patriarch of the Chettinad family that runs a Rs 4000 crore business empire, has alleged that the former BCCI chief and Ramaswamy's cousin AC Muthiah has created documents with Ramaswamy's thumb impressions in an apparent attempt to transfer wealth.

AC Muthiah dismissed the allegation.

In a press note, MAMR Muthiah, who is managing most of Ramaswamy's family businesses, says: "I understand that AC Muthiah and ARL Sunderesan [advocate] with the help of Madan Mohan [a doctor a Fortis] had taken the thumb impression of my father in several unfilled forms and are intending to transfer shares held by my father in Chettinad Cement Corporation to the trust run by AC Muthiah and ARL Sunderesan."

Muthiah’s statement said he has lodged a complaint with the commissioner of police-Chennai.

AC Muthiah, who had kept away from the affairs of the Ramaswamy family, made a comeback a few months ago at the Rajah palace in Foreshore estate in Chennai at a press conference in which Ramaswamy publicly disowned MAMR Muthiah and praised AC Muthiah for standing by him and even hinted that he would be a custodian of his fortune.

AC Muthiah thinks it was "mean trick" on the part of MAMR Muthiah to send out a press note alleging fraud. "It's all rubbish," dismissed AC Muthiah on the phone.

He confirmed that Ramaswamy was unwell and convalescing in Fortis Malar, Adyar.

Muthaih said the reason for the outbreak of allegations after months of relative peace was an incident that happened at the hospital when MAMR Muthiah came visiting. According to AC Muthiah, the father had turned away his foster son, sowing the seeds for another round of acrimonious exchanges.

"If he had taken care of his father, he would have inherited everything. Now, it will all go to two trusts. The Ramaswamy Chettiar Trust, in which Ramaswamy is the sole beneficiary, and another in which a series of well wishers are trustees have been set up," said AC Muthiah.

It all started to bubble up in August last year when the board of Chettinad Cement decided to not renew the directorship of MAM Ramaswamy. It was alleged that the foster son was behind it.

There are scores of litigation filed by both parties against one another on property and wealth disputes. The Chettinad family runs businesses in cement, logistics, healthcare, education and diversified segments.