Chettinad Group

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]}

Chettinad Group

Company type	Private
Industry	Conglomerate
Founded	Chennai, Tamil Nadu 1912; 113 years ago (1912)[1]
Founder	S. Rm. M. Annamalai Chettiar
Headquarters	Anna Salai, Chennai, Tamil Nadu
Key people	Dr. Muthiah Ramaswamy (Chairman)
Products	Cement Infrastructure Logistics Power generation Agriculture Education
Website	www.chettinad.com www.chettinadcement.com

History

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]

Coal Handling Scam and Asset Attachment

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]