Chennai, Aug 21 (Calcutta Tube) The management war at the famed Kumudam Tamil magazine is likely to be resolved in two months with smooth partition of titles and properties under an agreement signed by the two warring factions, a senior editor in whose presence the deal was inked said Sunday.
In a statement issued here Sunday, N. Ram, editor-in-chief of The Hindu, said: ‘According to this MOU settlement, which was forged over several mediated meetings over a four-month period, two magazines, which are currently part of the Kumudam group, will go to Varadarajan and to his brother, P. Srinivasan, and the remaining seven magazines of the Kumudam group will be with Palaniappan and his mother, Kothai Annamalai.’
The two factions are led by P. Varadarajan, managing director of Kumudam Publications, and A. Jawahar Palaniappan, a director in the company.
Varadarajan is the son of P.V. Parthasarathy, who was associated with the magazine in its early days. Palaniappan is the son of S.A.P. Annamalai, the magazine’s founder-editor.
The two factions signed a memorandum of understanding (MOU) Sunday evening at Ram’s residence.
In April, Palaniappan lodged a police complaint against Varadarajan for irregularities in the management of the company and the latter was taken into custody by police. He was released the same evening.
The issue also figured in the Tamil Nadu assembly with Chief Minister M. Karunanidhi announcing that the government would form a committee to safeguard the magazine’s interests.
According to the Sunday statement, the separation process will now go ahead on the basis of independent professional valuation. The process is expected to be completed in two months’ time and result in a final settlement.
When asked who would own Kumudam, Palaniappan told IANS: ‘I am not in a position to share more details.’