Arunachalam moves NCLT over denial of board seat; next hearing on April 23

The main allegation is that there has been a history of gender discrimination in the Murugappa Group

Valli Arunachalam, the eldest daughter of former Murugappa group executive chairman M V Murugappan, and her family have moved the National Company Law Tribunal (NCLT), Chennai, seeking waiver of the minimum shareholding requirement of 10 per cent to maintain the alleged oppression and mismanagement case against Ambadi Investments (AIL), the flagship company of the Rs 38,000-crore group.
 
The NCLT has given the respondents three weeks’ time to reply and posted the matter for April 23.
 
Senior Counsel P S Raman, who appeared for Arunachalam, argued that the family owns 8.21 per cent in AIL and falls short of