Valli Arunachalam's fight for her rights against gender bias in Murugappa Group. Explained
gender discrimination. "The Murugappa family is pleased to announce that its members have agreed to settle the disputes and differences between the family branch of late Mr. M V Murugappan (including Mrs.
Valli Arunachalam and Mrs. Vellachi Murugappan), on one side, and the rest of the family members, on the other side, which arose post the demise of late Mr. M V Murugappan." an official press release read.
“The family arrangement is envisaged primarily to bring about amity and maintain goodwill amongst the members of the Murugappa family, and to maintain the overall harmony within the family, in this generation, as well as in the future" the official press release added Valli Arunachalam, Murugappa group chairman's eldest daughter, her sister and their mother, has been demanding a board seat in Murugappa Group’s holding company Ambadi Investments (AIL) or a suitable value for their 8.23%. According to media reports, MV Murugappan, who was the patriarch of the Muruggappa group for 20 years, passed away in September 2017. He bequeathed everything for his wife Valli Murugappan and daughters.
According to his will, the Murugappa family business spanned over five generations. The family holds 91 per cent stake in the public unlisted company. Valli Arunachalm has been demanding a board seat.
"In August 2019, we asked for a board position. I have been repeatedly following up with them and asked them for meeting, but it has fallen on deaf ears. Every branch of the third generation has a representation on the Ambadi board, except ours," Arunachalam had told Business Today.
Read more on livemint.com
