The Murugappa family has agreed to settle the disputes between the family branch of the late M V Murugappan (including Valli Arunachalam and Vellachi Murugappan) on the one side and the rest of the family members on the other side which arose after the demise of the late M V Murugappan. 

Ambadi Investments (AIL) is the holding company of the Rs 36,893-crore Murugappa Group. 

The members of the Murugappa family first discussed and concluded the terms of the family arrangement among themselves at a meeting in the presence of their respective advisers, the group has said in a statement. 

Along with settling the disputes, Valli Arunachalam’s legal proceedings against Murugappa family will be withdrawn. “The family members are committed to undertake the necessary transactions to effect the family arrangement within the next 90 days,” it has added. 

As a part of the family arrangement, the parties have also agreed that all legal proceedings between the family groups will be withdrawn according to the terms of the family arrangement after all agreed steps specified in the family settlement have been completed. 

The Murugappa family, a renowned and long-standing business dynasty in India, comprises listed companies, such as Carborundum Universal, Cholamandalam Invest and Finance, Cholamandalam Financial Holdings, Coromandel Engineering, EID Parry (India) and Tube Investments of India, among others. 

Valli Arunachalam is the great-granddaughter of Murugappa Group founder Dewan Bahadur A M Murugappa Chettiar. She is also second-cousin to Murugappa Group’s Executive Chairman M M Murugappan and cousin to former Executive Chairman A Vellayan. 

Valli Arunachalam, who had been engaged in a long-standing battle for recognition as her father’s heir, had reportedly proposed her name for the directorship in a notice back in 2020.