The parties will take steps to withdraw all legal proceedings between the family groups and complete some pending formalities.
The Murugappa family has announced that its members have undertaken the necessary actions to effect the family arrangement, the terms of which had been recorded by way of a memorandum on August 20, 2023. With this, the family arrangement with the family branch of late Mr. M V Murugappan is now effective.
In the upcoming days, the parties will take steps to withdraw all legal proceedings between the family groups and complete some pending formalities.
No listed company forming part of the Murugappa Group 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.
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