New Delhi, March 6 -- Amara Raja Energy and Mobility Ltd's ageing patriarch recently farmed out the promoter entity's 33% holding to four new family trusts, hopping on an increasingly popular-but not always successful-route for promoters to secure family wealth.

Ramachandra Naidu Galla, 86, is the controlling trustee of the four family trusts, according to a recent exchange filing by the country's second-largest manufacturer of lead-acid batteries.

"The settlement into the said family trusts is proposed to enable structured and seamless intergenerational succession of Dr. Ramachandra Naidu Galla (Promoter of ARE&M) assets, including shares/control, so as to eradicate the possibility of future conflict," Amara Raja said filing published ...