The Murugappa family is on Wednesday 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, the company announced through an exchange filing.
With this, the family arrangement with the family branch of late 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, the company informed via regulatory filings.
According to the filing, no listed company within the Murugappa Group is involved in the family arrangement, and the family arrangement does not pertain to the management, control, or confer any special rights to the parties in any of these companies:
1. Carborundum Universal Limited 2. Cholamandalam Investment and Finance Company Limited 3. Cholamandalam Financial Holdings Limited 4. Coromandel Engineering Company Limited 5. Coromandel International Limited 6. E I D Parry (India) Limited 7. Tube Investments of India Limited 8. Kartik Investments Trust Limited 9. CG Power and Industrial Solutions Limited 10. Shanthi Gears Limited 11. Wendt (India) Limited
