 "M M Murugappan")
Three companies of the Rs 38,105-crore Murugappa Group on Wednesday announced that M M Murugappan stepped down as the chairman and director as he turned 65.
Cholamandalam Investment, Tube Investments of India, and Coromandel International were the three firms to inform the stock exchanges of the resignation on Wednesday.
The group’s spokesperson did not respond to Business Standard’s query on whether Murugappan also retired as the group’s chairman.
It may be noted, that chairmen retire when they turn 65 and sources said this an unwritten rule that the Murugappa family abides by. In 2018, A Vellayan resigned after he turned 65, and in
