Valli Arunachalam vows to continue fight for Ambadi board seat

I will take up the issue with Finance Minister Nirmala Sitharaman about the non-appointment of a woman director on the company board’, said Ms. Arunachalam

Valli Arunachalam, who is fighting a lone battle to secure a seat in Murugappa holding company’s Ambadi Investments Ltd. (AIL), said she would approach the Supreme Court in the matter if required.

Ms. Arunachalam, the eldest daughter of the former executive chairman of the Murugappa Group, the late M.V. Murugappan, along with her family, holds 8.23% stake.

With NCLAT dismissing AIL’s appeals against her petitions in the tribunal, she said she had full faith in the judiciary.

“I hope that I will get justice. I will fight as long as I can. I will also approach the Supreme Court if need be,” she said in an interview.

According to her, the NCLT Chennai bench will now hear her fresh waiver application and the connected company petition on mismanagement of affairs purely on the merits.

“The company petition needs to be argued and that is where the core of the matter lies which is gender justice and mismanagement.,” Ms. Arunachalam said.

“The Murugappa group has explain their stand in public, to their shareholders, vendors and employees,” she added.