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    Murugappa female heir denied board berth in Ambadi Investments

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    The hopes of one of the female heirs, Valli Arunachalam of the industrial conglomerate, the Rs 38,105 crore Murugappa Group, of becoming a Director in the family's holding company Ambadi Investments Ltd (AIL) were dashed at the Annual General Meeting (AGM).A majority of the shareholders of AIL -- uncles and cousins of Arunachalam -- voted against the resolution proposing her candidature for appointment as a Director of AIL at the AGM held through video-conferencing on Monday morning.

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