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C Krishniah Chetty & Sons to be divided amongst owners
The 143 year single-ownership format will be segmented
By: Diamond World News Service
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Mar 12 2014 11:14AM
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Reference: 8938  

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Leading jewellery manufacturing entity C Krishniah Chetty & Sons (CKC) is going to be split amongst its owners, after a legacy of 143 years of single-ownership, reports say. The decision came citing growth ambitions and family settlement amongst the fifth-generation owners. The business was equally owned by the two branches of the family, and operated with the company board consisting of six members of three generations.

Now, the business will be split between cousins C Vinod Hayagriv and C Ganesh Narayan, reports say. There are three stores being currently operated by the company in Bangalore, home to the beginning of this enterprise. These will be split between Vinod Hayagriv (Managing director) and Ganesh Narayan (joint MD), reports say. Each cousin to get one store and the 143-year-old Commercial Street store will be equally divided. The store to be given to Narayan in Jayanagar area is of a smaller size compared to the one allotted to his cousin, as such Narayan will be given a cash payout, reports add. The company operated two manufacturing plants will also be split amongst the two cousins, reports add.

The cousins will each use different variations of the trademark brand for which non-disclosure agreements have been signed.

Differences amongst the members also seem to have spurted over an online jewellery venture Bluestone.com, started by Ganesh Narayan's wife, as some felt the venture began without a disclosure by the joint MD, reports say. The restructuring is expected to be complete by the end of the current year, reports say.

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