DMK MP Dayanidhi Maran Sends Legal Notice to Brother Kalanithi Maran Over Sun TV Share Dispute

Comments · 0 Views

DMK MP Dayanidhi Maran sends legal notice to media baron brother Kalanithi Maran over disputed share transactions in Sun TV Network.

Dayanidhi Maran, a DMK MP and former Union Minister, has taken legal action against his brother Kalanithi Maran, who is the Chairman of Sun TV Network, along with his wife and six others. The dispute revolves around share transactions dating back to 2003, highlighting a family conflict between the siblings.

The legal notice alleges that until September 15, 2003, Kalanithi Maran was solely an employee of the Sun TV Network, not holding any shares. However, just a week after their father, S.N. Maran, was brought back from the U.S. in a comatose state, Kalanithi allegedly allocated 60% of the shares to himself without consulting the existing shareholders, effectively becoming the majority shareholder.

This move significantly reduced the original promoters' shareholding from 50% to 20% each, allowing Kalanithi to benefit from substantial dividends amounting to crores of rupees annually. The legal notice demands the restoration of the shareholding structure to its pre-2003 state, returning all benefits and assets acquired unlawfully to the rightful owners.

If the demands are not met, the notice warns of potential civil, criminal, and regulatory actions. As of the latest update, Kalanithi Maran has not publicly responded to the legal notice.



Source: The Hindu
Comments