Murugappa family settles disputes with Valli Arunachalam, withdraws legal proceedings

The members of the Murugappa family first discussed and concluded the terms of the family arrangement amongst themselves at a meeting in the presence of their respective advisors, the group said in a statement.

The Murugappa family has agreed to settle the disputes between the family branch of the late MV Murugappan (including Valli Arunachalam and Vellachi Murugappan), on one side, and the rest of the family members, on the other side, which arose post the demise of late MV Murugappan.

Ambadi Investments Ltd (AIL) is the holding company of the Rs 36,893-crore Murugappa Group.

The members of the Murugappa family first discussed and concluded the terms of the family arrangement amongst themselves at a meeting in the presence of their respective advisors, the group said in a statement.

Along with settling the disputes, Valli Arunachalam's legal proceedings against Murugappa Family will be withdrawn. "The family members are committed to undertake the necessary transactions to effect the family arrangement within the next 90 days," it added.

As part of the family arrangement, the parties have also agreed that all legal proceedings between the family groups will be withdrawn as per the terms of the family arrangement after all agreed steps specified in the family settlement have been completed.

The Murugappa family, a renowned and long-standing business dynasty in India, comprising listed companies:

1. Carborundum Universal Limited
2. Cholamandalam Invest and Finance
3. Cholamandalam Financial Holdings
4. Coromandel Engineering
5. Coromandel International Limited
6. E I D Parry (India) Limited
7. Tube Investments of India Limited
8. CG Power
9. Kartik Investments Trust Limited
10. Shanthi Gears Limited
11. Wendt (India) Limited

Arunachalam is the great-granddaughter of Murugappa Group founder Dewan Bahadur A M Murugappa Chettiar. She is also second-cousin to Murugappa Group's Executive Chairman MM Murugappan, and cousin to former executive chairman A Vellayan.

Arunachalam, who has been engaged in a long-standing battle for recognition as her father's heir, had reportedly proposed her name for the directorship in a notice back in 2020.

The Murugappa family's patriarchal practice of allegedly keeping women out of the group's businesses has hit the headlines yet again.