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Tata tussle puts spotlight on Hanno’s TVS deal as filings reveal 29-year lease, build-to-suit structure

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Tata tussle puts spotlight on Hanno’s TVS deal as filings reveal 29-year lease, build-to-suit structure

The commercial relationship between TVS Motor Company and Hanno One Warehousing, a company run by family members of Tata Sons Chairman N Chandrasekaran, appears to be broader than previously reported, according to filings reviewed by YourStory.

Hanno One Warehousing was incorporated in March 2025. The company's board includes N Chandrasekaran’s wife Lalitha Chandrasekaran and son Pranav Chandrasekaran.

According to MCA records, the company is into storage and warehousing activities, including general merchandise warehousing and storage of goods such as automobiles, furniture, chemicals, and textiles. Its annual report describes a business model centered on acquiring or leasing land and developing light-industrial buildings to customer specifications under a build-to-suit model.

Hanno’s first annual report, Ministry of Corporate Affairs (MCA) records, and approved project plans show that TVS Motor leased 17.41 acres in Uddanapalli village in Tamil Nadu’s Krishnagiri district to Hanno for 29 years. The filings also provide details on the roughly Rs 106 crore project, including its proposed financing, and show that Hanno is exploring a similar build-to-suit model in Mysuru.

YourStory has sent questions to Hanno One Warehousing, TVS Motor Chairman Emeritus Venu Srinivasan, TVS Motor, and Tata Trusts. The queries seek clarity on how Hanno was selected for the project, whether there was a competitive process, the commercial rationale for the arrangement, disclosure of the relationship, and whether recusal was considered during discussions around Chandrasekaran’s reappointment. Responses will be incorporated when received.

The documents add detail to a commercial relationship that has come under scrutiny amid the governance dispute at Tata Sons.


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