Valli Arunachalam seeks to file fresh waiver plea
The Hindu
NCLT to hear case on September 15
The National Company Law Tribunal (NCLT), Chennai has directed Valli Arunachalam and her family to file a withdrawal plea on an earlier waiver petition, before filing a fresh one in its case against Ambadi Investments (AIL), the holding firm of the Murugappa Group and also its family members. Ms. Arunachalam had sought to file a fresh waiver plea to rectify the errors in the previous one. Ambadi strongly opposed the move in a hearing on Wednesday The earlier application had sought waiver of the minimum shareholding requirement of 10% for maintaining the alleged oppression and mismanagement case against AIL and also its family members.
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