industry

Murugappa female heir denied board berth in Ambadi Investments


The hopes of one of the female heirs, Valli Arunachalam of the industrial conglomerate, the Rs 38,105 crore Murugappa Group, of becoming a Director in the family’s holding company Ambadi Investments Ltd (AIL) were dashed at the Annual General Meeting (AGM).A majority of the shareholders of AIL — uncles and cousins of Arunachalam — voted against the resolution proposing her candidature for appointment as a Director of AIL at the AGM held through video-conferencing on Monday morning.





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