| Chettinad Group | |
| Type: | Private |
| Founder: | S. Rm. M. Annamalai Chettiar |
| Key People: | Dr. Muthiah Ramaswamy (Chairman) |
| Industry: | Conglomerate |
| Products: | Cement Infrastructure Logistics Power generation Agriculture Education |
| Foundation: | Chennai, Tamil Nadu [1] |
| Location: | Anna Salai, Chennai, Tamil Nadu |
| Homepage: | |
Chettinad Group is an Indian business conglomerate headquartered in Chennai. It was founded as the Annaamalai Chettiar Group by Annamalai Chettiar.[2] [3] [4] [5] [6]
The Chettinad Group was founded in January 1912 by Raja Sir Annamalai Chettiar, who was part of the Nagarathar community in Tamil Nadu.[7] In July 1962, the Chettinad Group expanded into the cement sector and launched Chettinad Cement.[8] In December 1984, after the death of M.A.Muthiah Chettiar, leadership passed to his son, M.A.M. Ramaswamy Chettiar, who became the group's head.[9] After the death of Ramaswamy Chettiar, leadership passed to his adopted son M.A.M.R.Muthiah, who became the group's head in 2015.
March 2011, Ennore Port (now Kamarajar Port) entered into a license agreement with Chettinad Group through a special purpose vehicle, Chettinad International Coal Terminal, for a build-operate-transfer (BOT) scheme.[10]
From January 2012 to 2013 Chettinad Cement Corporation partnered with its associate company, Chettinad Power Corporation, to fund a thermal power project in Tamil Nadu. Chettinad Cement invested around ₹1,300 crore in equity.[11]
In 2013 Chettinad Group partnered with private firms such as Breeze Enterprises, Mintra, Trans Earth Logistics, and Fossil Logistics, for logistics and coal movement.[10]
In 2020 November JSW Infrastructure acquired Chettinad Group’s port assets.[12]
In August 2015, the Income Tax Department conducted extensive raids on properties linked to the Chettinad Group, reportedly uncovering unaccounted income of over ₹300 crore, which included large caches of cash and jewellery. These raids were part of a larger crackdown on alleged financial irregularities within the group.[13]
In July 2024, the Enforcement Directorate provisionally attached immovable properties worth over ₹298 crore belonging to South India Corporation Pvt Ltd, a Chettinad Group company, under the Prevention of Money Laundering Act. This action stemmed from an investigation based on a Directorate of Vigilance and Anti-Corruption FIR against former officials of the Tamil Nadu Generation and Distribution Corporation and SICPL.[14] The probe found that a coal handling contract originally awarded for five months in 2001 continued for 19 years following repeated court injunctions, reportedly resulting in a loss of approximately ₹908 crore to TANGEDCO and a corresponding gain to SICPL.[15]
