Chennai-based business conglomerate Murugappa Group has said that the family arrangement concluded in August has come into effect, ending an almost five-year-long battle among the family members of the ₹74,220-crore group.

The family members have undertaken necessary actions to effect the family arrangement, the terms of which had been recorded by way of a memorandum on August 20, 2023. With this, the arrangement with the family branch of late MV Murugappan is now effective, according to a statement.

In the upcoming days, the parties will take steps to withdraw all legal proceedings between the family groups and complete some pending formalities.

No listed company forming part of the Murugappa Group is a party to the family arrangement, and nothing in the family arrangement relates to the management or control of, or grants any special rights to the parties in, any such companies, it added.

The dispute

A family dispute arose 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 .

Valli Arunachalam, a New York-based scientist, and MV Murugappan’s eldest daughter, had sought a board seat in Ambadi Investments Ltd (AIL), the holding company of the Murugappa Group. She accused the family of denying her a seat due to her gender. The battle had reached the court and NCLT.  

However, in August, the family announced that they concluded an arrangement to settle their disputes and differences. But, details of the arrangement were not disclosed.

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