MURUGAPPA FAMILY
ETtech Explainer: Behind Apple’s search for Indian iCamera maker
Manufacturing and assembling camera modules is a complicated process involving multiple specialised components. Apple's move to possibly look at onboarding two Indian corporates to court Apple could be a catalyst for the country’s high-end manufacturing ambitions.
In 2023 India Inc. learnt hard lessons on families, friends and partners
India Inc 2023: The year 2023 saw significant turmoil within several prominent Indian businesses, including Bharat Forge, Indigo, Raymond Group, and Religare Enterprises. These disputes among family members, friends, and stakeholders shed light on critical issues. It emphasized the necessity for clear succession plans, strategies to shield companies from relationship conflicts, and improved scrutiny of stakeholders. This upheaval serves as a crucial lesson for corporate India, urging the development of better approaches to confront future challenges in a maturing corporate landscape, especially as women in top roles assert their influence.
Religare's Saluja, Baba Kalyani's sister or Singhania's ex-wife, the spotlight falls on women's corporate war
Rashmi Saluja-led Religare Enterprises, for example, is embroiled in a conflict with the Burmans of Dabur. Baba Kalyani of Bharat Forge has an ongoing dispute with his sister, Sugandha Hiremath of Hikal. There's also a rift between Gopichand Hinduja and his nieces, as well as between the late Gopal Raheja's son and two daughters over his construction group's assets.
Murugappa family completes the family arrangement with the family branch of late M V Murugappan
The Murugappa family has announced the successful completion of a family arrangement, resolving the longstanding issues with the family branch of the late MV Murugappan. Legal proceedings between the family groups will be withdrawn, and pending formalities will be settled in the coming days. Notably, the family arrangement does not impact the management or control of any listed companies within the Murugappa Group.
Bharat Inc's Succession Story: How India's biggest family businesses are planning a generational shift
Succession planning is still evolving in Indian companies, with some patriarchs opting not to announce a successor due to doubts about the most suitable candidate or a belief in a natural succession process. Various trends are at play, including the appointment of family members to the board, selling businesses, creating family trusts, and dividing businesses among legal heirs.
Murugappa family ends dispute with Valli Arunachalam
The communique, which did not reveal the terms of the agreement, said this will also bring to a close legal challenges including that mounted by family scion Valli Arunachalam following the death of her father and group patriarch MV Murugappan in 2017.
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Who is Valli Arunachalam? The nuclear scientist's years-long battle with Murugappa group ends
The Murugappa family has settled the long-standing dispute between its members after the death of late MV Murugappan. The terms of the agreement have not been disclosed. Dr Valli Arunachalam, a US-based nuclear scientist and daughter of MV Murugappan, had previously demanded a board seat in Ambadi Investments, the group's holding company, based on the family's shareholding.
Murugappa family agrees on terms of family arrangement with the family branch of late M V Murugappan
The family members of the Murugappa family have agreed to settle disputes and differences in order to "maintain overall harmony within the family". As part of the family arrangement, all legal proceedings between family members will be withdrawn, and no listed company in the Murugappa Group will be a party to the agreement. The family arrangement comes after Valli Arunachalam, a scion of the group, had moved the National Company Law Appellate Tribunal alleging oppression and seeking representation on the holding company, Ambadi Investments.
Murugappa family agrees to settle disputes among members that arose post demise of patriarch M V Murugappan
The Murugappa family has reached a Memorandum of Understanding to settle their disputes and differences following the demise of M V Murugappan. Terms of the arrangement remain confidential. The family members’ representatives have said that the agreement ensures all issues will be settled and harmony in the family will continue in future generations.
What family and non-family businesses can learn from each other
Family-owned business is the dominant form of business organisation in India. Ranging from large industrial houses to medium and small enterprises, family businesses form the backbone of the Indian economy. Over 90% of all listed firms in India are family-owned businesses.
NCLAT allows Valli Arunachalam to file fresh waiver petition in Murugappa Group battle
In its order on Monday, a copy of which ET has seen, the National Company Law Appellate Tribunal said the NCLT's order permitting the fresh plea, with objections to be taken up at "appropriate stage", was "free from any legal flaws".
Recykal raises $22 million from Morgan Stanley, existing investors
The company has also launched B2B Marketplace for waste that connects participants across the waste value chain to enhance efficiency and economics for all.
NCLT starts hearing Arunachalam’s plea
Arunachalam is the eldest daughter of the former family patriarch, the late MV Murugappan. She had accused other shareholders of the diversified group of ignoring her claims for a board seat at the holding company, Ambadi Investments Ltd (AIL), over her gender.
Valli Arunachalam slams Murugappa Group's restructuring move for being gender biased
The Rs 38,100-crore Murugappa Group's restructuring announcement has no mention of daughters being groomed for leadership roles in business, thus making it a conglomerate that continues to marginalise daughters and mentor only sons for leadership roles, the 59-year-old nuclear engineer said.
Murugappa Group takes over CG Power, appoints directors
CG Power said its entire board including non-executive chairman Ashish Guha and whole-time executive director Sudhir Mathur have resigned.
Gender equality tougher in Indian business families, says Shanu Hinduja
The eldest daughter of patriarch Srichand Parmanand (SP) Hinduja and Arunachaam spoke about their “fight for equality” at the Economic Times Women’s Forum.
Valli Arunachalam files notices against Murugappa family members for rejecting her proposal
The development comes after the family members of the Murugappa Group voted overwhelmingly against the proposal to appoint Valli Arunachalam on the board of Ambadi Investments.
Corporate chatter: LVB’s woes continue; Murugappa Group eyes new horizons with CG Power in the kitty; analysts face management fury, triggered by Covid
A first-generation Indian entrepreneur is on the prowl again.
Discriminatory treatment a setback for gender equality: Valli Arunachalam
Nuclear engineer Valli Arunachalam, eldest daughter of the late MV Murugappan, former executive chairman of the Rs 38,100-crore Murugappa Group, said she was prepared to wage a 'long battle' to secure the rightful share due to her mother, sister and herself after the shareholders’ unanimously rejected her induction into the board of holding company Ambadi Investment.
Indian courts will see through all these hyper-technical stands being taken by the family: Valli Arunachalam
Days after the holding company of over 120-year-old Murugappa Group, Ambadi Investments Ltd (AIL) rejected a proposal of accommodating Valli Arunachalam, she said that she will continue to fight the decision.
Family members of Murugappa Group vote against giving a board seat to Valli Arunachalam
Ambadi Investments Ltd (AIL), a holding company of over $ 5 billion Murugappa Group in its Annual General Meeting (AGM) decided on Monday, not to allow her on the board of the holding company that controls the financial services-to-agro commodity conglomerate.
After drawn out battle, Murugappa Group set to discuss Valli Arunachalam's board entry
Arunachalam, a nuclear engineer by training, is the eldest daughter of former executive chairman MV Murugappan, who died in 2017. Arunachalam says she was denied a board position in Ambadi Investments, despite being his heir. Arunachalam, 59, her sister and their mother hold an 8.15% stake in AIL.
Daughters are special, and now they are equal too: Valli Arunachalam on SC judgement
The judgement includes everyone, whether they hail from modern or conservative/traditional business families, observed Valli Arunachalam.
SC's judgment on daughter's equal right to ancestral property will empower women from business families
On Tuesday, the division bench of the Supreme Court, headed by Justice Arun Mishra, while settling the question of law clarified that daughters will have right in the parental property in accordance with the amendment of 2005 in the Hindu Succession Act of 1956.
Murugappa Group family rift: Eldest daughter threatens to take legal recourse
She wondered if working with some of the top Fortune 500 companies for 23 long years is not good enough experience to be a board member of the company her father built.
Lessons from Murugappa: What are your inheritance rights as a woman?
Succession and inheritance laws are still grey areas for many women, largely due to the lack of uniformity.
In India, conglomerates must hone that edge
The top quartile conglomerates in India and South East Asia performed significantly better than others.
Family not first: When MV Subbiah was ‘demoted’ in the interest of Murugappa business
Sacrifices are what makes it work in a family business, says MV Subbiah.
Family constitutions: Why it is important for family-run businesses and what it should offer
The family constitution - meant to record and formalise devolution of familial wealth, vision, values and ethos - is becoming a compulsion.
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