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Murugappa Group’s Out-Of-Court Settlement With Valli Arunachalam Surprises Corporate Watchers

They have been in the news for all wrong reasons.  One of their own members dragged them to the court. That member happens to be a female, adding a gender twist to a corporate feud — should we say domestic dispute. More than the legal battle, what has been hurting the group most is the negative publicity that the whole issue was getting them. To be sure, the family members of the Chennai-based $ 5-billion Murugappa Group have shown extraordinary restraint in the face of an avalanche of media reports which featured the versions of Valli Arunachalam, the elder daughter of late MV Murugappan who was the head of Carborundum Universal. Post his demise, Valli and her sisters insisted that they be accommodated in the businesses of the group. Valli even reportedly suggested that they be bought out in the group. All of a sudden on a leisurely Sunday (Aug 20), both sides have agreed to bury the hatchet and settle amicably out-of-court. This could put an immediate end to the washing of dirty linen in public.  They have a 90-day window to work out an amicable deal to part ways. Will there be a friend in need for the family to get Valli off their back? Well, interesting times are ahead at Murugappa Group.