Tamil Nadu CM MK Stalin launched the Rs 100 crore corpus scholarship alongside billionaire businessman Venu Srinivasan.
Industrialist Venu Srinivasan launched a Rs 100 crore corpus scholarship, unveiled by Tamil Nadu Chief Minister MK Stalin on Saturday. The scholarship known as 'TVS Cheema Scholarship' aims to provide financial assistance to 500 engineering students annually. The scholarship is named after TS Srinivasan, Venu Srinivasan's father who was one of the key founders of the TVS Group and was fondly known as Cheema. TS Srinivasan is credited with the transformation of the family business from a trading firm to a leading manufacturer in India's auto sector.
Venu Srinivasan is the chairman emeritus of the TVS Motor Company, one of India's largest two-wheeler makers, with a market cap of over Rs 75,000 crore. He is a third generation scion of the TVS Group which was created by his grandfather TV Sundaram Iyengar in 1911. The 70-year-old holds a Bachelor of Engineering from Chennai's Anna University and an MBA degree from Purdue University in the US.
Venu Srinivasan's contributions were recognised by the Indian government which honoured him with the country's third highest civilian award, Padma Bhushan, in 2020. Apart from TVS, Srinivasan also sits on the board of Tata Sons, the holding company of the salt-to-software corporate Tata Group, with Chairman Emeritus Ratan Gandhi.
Srinivasan is one of the richest persons in India with a net worth of over Rs 21,600 crore ($2.6 billion). His wife is also a business tycoon and one of India's richest women who leads a tractor giant TAFE, founded by her father, late industrialist A Sivasailam.
To fulfil the potential of the Rs 100 crore scholarship, TVS will collaborate with top educational institutions, the likes of IITs and NITs among others, in order to bring the opportunity to a large number of deserving students. Launched on TS Srinivasan's centenary celebrations, the scholarship will focus on mechanical engineering stream.
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 "Meet man worth Rs 21680 crore who launched Rs 100 crore scholarship, his firm will work with IITs, NITs to…")
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