Valli Arunachalam, the eldest daughter of former Group executive chairman MV Murugappan, is ready to take on the fight to the Supreme Court, if need be, for a representation in Ambadi Investments, which manages the ₹38,000-crore Murugappa Group.

“This fight is not about me but about the half-a-billion Indian women who deserve a fair chance,” she said.

Last week, Arunachalam got a boost in the tussle. The Chennai branch of the National Company Law Appellate Tribunal (NCLAT) dismissed appeals filed by Ambadi Investments challenging an order of the National Company Law Tribunal (NCLT) allowing an application filed by her and her family to withdraw an “earlier” waiver petition.

Valli Arunachalam, Vellachi Murugappan and their mother (who died in January), MV Valli Murugappan (MVM family), had filed a petition before the NCLT Chennai, asking that they be treated on par with other shareholders who were members of the family. A fresh waiver petition containing certain new facts was also filed.

The NCLT allowed the withdrawal of the old waiver application filed by Arunachalam and directed the fresh waiver application to be taken on board. The Murugappa family filed an appeal, challenging the order before the NCLAT.

For representation

“For nearly five years, I have been fighting for representation in Ambadi Investments. My father held the board position till 2017. However, after his passing, we asked the family to either settle us from the business or to give us a board seat. It went back and forth, they would say they would settle us only to renege, the board seat was rejected without any reason. They kept dragging on, and finally said, do what you want with the Ambadi shares. That’s when I felt that our family branch has been unfairly sidelined from the business. We had the shareholding (8.23 per cent) like all the other families,” she said.

“There are six members from the family on the board and two independent directors. My father was the seventh member, and his seat is still vacant,” she added.

‘Gender discrimination’

“The board comprises male representatives from every branch of the Murugappa family — except my father’s family branch consisting of only females. The only distinguishing factor between our family branch and others is that we are all women,” she added.

Why is it that sons can step in to shoes of their fathers whereas daughters cannot? It is a fight for gender justice. It is not a fight for my family but for all Indian women. All of them should have equal opportunity provided they have the capability and credentials to make it, she said.

“I am hopeful that finally the matter will be heard on merits in the tribunal. I look forward to the group explaining why this is not about gender discrimination, oppression and mismanagement. They will need to explain these in a public forum to stakeholders, collaborators, employees and media. This is the question they have scuttled for the last two years,” she said.

“They will take the issue all the way to the Supreme Court. But, I am willing to go all the way because this fight is not about me but about the half-a-billion Indian women who deserve a fair chance. It is going to be a marathon. I am 200 per cent committed to it and may gender justice prevail,” she added.

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