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Murugappa family completes family arrangement with Valli Arunachalam; latter to withdraw legal proceedings

Valli, daughter of the late M V Murugappan, former head of Carborundum Universal Ltd, wanted a board seat in Ambadi Investments Ltd (AIL), the holding company of the group, or the family members to buy out the 8.15 percent stake held by herself and her sister in AIL.

Murugappa Family completes the Family Arrangement with the family branch of late Mr M V Murugappan

Murugappa Family completes the Family Arrangement with the family branch of late Mr M V Murugappan
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Murugappa family completes the family arrangement with the family branch of late M V Murugappan

The Murugappa family has announced the successful completion of a family arrangement, resolving the longstanding issues with the family branch of the late MV Murugappan. Legal proceedings between the family groups will be withdrawn, and pending formalities will be settled in the coming days. Notably, the family arrangement does not impact the management or control of any listed companies within the Murugappa Group.

Forbes India Rich List 2023: Cumulative Wealth Of Indian Billionaires With Diversified Businesses Highest This Year

Forbes India Rich List 2023: Cumulative Wealth Of Indian Billionaires With Diversified Businesses Highest This Year
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