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Murugappa household will provide 4th gen board seat


CHENNAI: Valli Arunachalam, a fourth-generation member of the family on the Murugappa group, and different promoter members of the family have buried the hatchet. After an almost three-year-old fracas, the group is providing her a board illustration in Ambadi Investments, an unlisted holding firm.
The AGM of the corporate is scheduled for September 21.
Arunachalam had alleged gender discrimination for protecting her out of the affairs of the corporate after her father died. Arunachalam, her sister and her mom have been bequeathed a stake of over 8% in Ambadi Investments upon the demise of her father M V Murugappan in September 2017.
Since then, requests to the household to purchase their stake amicably at a good valuation or to permit illustration on the board of the corporate fell on deaf years, she alleged. She had warned the members of the family that her persistence was working skinny.
“I’m glad the household appears to be seeing the sunshine of day, and the board (which consists primarily of members of the family) has positioned my appointment on the AGM agenda. Given the household controls majority shareholding within the firm, I want to consider that it’s a foregone conclusion that I will likely be appointed as a director on the AGM,” she stated in reply to a TOI questionnaire.
Murugappa group didn’t want to remark because it was the affairs of a privately held holding firm. Murugappa group runs 28 companies and earns almost Rs 37,000 crore in annual revenues and greater than 50,000 staff.


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