InvestorQ : Why has Valli Arunachalam sent a legal notice to the Murugappa family members?
vaishnavi mhatre made post

Why has Valli Arunachalam sent a legal notice to the Murugappa family members?

Answer
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vidhya Laxmi answered.
2 weeks ago


Valli Arunachalam, one of the scions of the Murugappa family of Chennai, issued a legal notice to her family members for denying her a position in the board of directors of Ambadi Investments Ltd, the holding company of the Murugappa group. Valli is the eldest daughter of MV Murugappan, who passed away recently.

The Murugappa had voted unanimously to keep Valli Arunachalam out of the board of Ambadi Investments, which Valli claims was unfair and against her father’s will. Valli has called it a socially regressive gender bias where equal rights are denied to women.

Valli Arunachalam has testified that a big portion of her late father’s estate was tied to Ambadi Investments and it was entirely unfair to expect her to relinquish control. Valli had asked the board of Ambadi to either give her a seat on the board or buy out her 8.15% stake in Ambadi at fair value.

Ambadi is the holding company of the 120 year old Murugappa group and encompasses companies like Coromandel International, Shanti Gears, EID Parry, Carborundum Universal, Tube Investments, Wendt, Chola Investments etc.