Ambadi Investments Ltd (AIL), holding company of the Rs 36,893-crore Murugappa Group, have voted against giving a board seat to Valli Arunachalam, daughter of former executive chairman MV Murugappan.
At the company's annual general meeting (AGM) held on September 21, over 90 percent of the shareholders voted against a board position for Arunachalam, CNBC-Tv18 has reported.
Arunachalam is the great-granddaughter of Murugappa Group founder Dewan Bahadur A M Murugappa Chettiar. She is also second-cousin to Murugappa Group executive chairman MM Murugappan, and cousin to former executive chairman A Vellayan, CNBC-Tv18 report said.
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 she sent last month.