The Murugappa family has announced an amicable settlement of all outstanding legal disputes and differences with Valli Arunachalam, scion of the MV Murugappan family branch. The resolution was reached through a family arrangement, the terms of which were concluded in the presence of advisers, bringing an end to a prolonged legal battle that began in early 2020.

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The Murugappa family, a renowned and long-standing business dynasty in India, issued a statement affirming the finalisation of the settlement. According to the statement, the terms of the family arrangement will remain confidential, and none of the listed companies under the Murugappa Group are parties to these terms.

“The family arrangement ensures that all the issues between the members will be settled, and they are happy that they have agreed to resolve this amicably. The terms of the family arrangement itself are confidential,” representatives for the family said in a press statement.

Valli Arunachalam's legal proceedings against the Murugappa family were initiated in early 2021. In 2020, Valli had sought a board position at Ambadi Investments, the holding company of the Murugappa Group, following the passing of her father, MV Murugappan. This demand was denied as the board has traditionally been occupied by male members of the family.

Her request for a fair market acquisition of her shares in the family's businesses was also denied.

The settlement, as announced by the Murugappa family, will involve the Murugappa Family effecting transactions to the MV Murugappan family branch within the next 90 days. Moreover, Valli Arunachalam's ongoing legal proceedings against the Murugappa family will be withdrawn as part of the settlement.

First Published:Aug 20, 2023 3:35 PM IST