The Murugappa family has announced a settlement of disputes between the family branch of late M V Murugappan, which included Valli Arunachalam and Vellachi Murugappan, on one side, and the rest of the family members, on the other side, which arose post the demise of late M V Murugappan.

The family has discussed and concluded the terms of family arrangement in the presence of their respective advisors. They hav entered into a memorandum and are committed to undertake the necessary transactions to affect the family arrangement within the next 90 days. 

"The family arrangement ensures that all the issues between the members will be settled, and they are happy that they have agreed to resolve this amicably. The terms of the family arrangement itself are confidential,"said representatives for the family members.

The parties have agreed that all legal proceedings between the family groups will be withdrawn as per the terms of the family arrangement after all agreed steps specified in the family settlement have been completed. 

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.