Murugappa group settles disputes on family arrangement, all legal proceedings withdrawn

The Murugappa family members have agreed to settle the disputes and differences between the family branch of late M V Murugappan (including Valli Arunachalam and 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.

The members of the Murugappa family first discussed and concluded the terms of the family arrangement amongst themselves at a meeting in the presence of their respective advisors. This understanding was recorded today by way of a memorandum entered into by the members of the Murugappa family with the family branch of late Mr. M V Murugappan (including Valli Arunachalam and Vellachi Murugappan). The family members are committed to undertake the necessary transactions to effect the family arrangement within the next 90 days. 

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 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”, said representatives for the family members.

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of the family arrangement, the parties have also agreed that all legal proceedings between the family groups will be withdrawn as per the terms of the family arrangement after all agreed steps specified in the family settlement have been completed. 

No listed company forming part of the Murugappa Group (listed below in the Annexure) is a party to the family arrangement, and nothing in the family arrangement relates to the management or control of, or grants any special rights to the parties in, any such companies.

Listed Companies Forming Part of Murugappa Group