DMK MP and former Union Minister Dayanidhi Maran has sent a legal notice to his brother Kalanithi Maran, Chairman, Sun TV Network, his wife Kavery Kalanithi and six others raising dispute in share transactions which happened in 2003, reflecting a family dispute between the brothers.
The notice pointed that from the inception of Sun TV Network Ltd (earlier Sumangali Publications Pvt Ltd) till September 15, 2003, Mr. Kalanithi had served solely as an employee of the group receiving salary and did not hold any shares.
It alleged that, on September 15, 2003, just seven days after S.N. Maran (their father and former Union Minister better known as Murasoli Maran), was brought to Chennai from U.S.A. in a comatose state, Mr. Kalanithi allotted to himself 60% of the shares of Sun TV “without any consultation or approval from the existing majority/promoter original shareholders and in collusion with other respondents and become a majority shareholder with controlling interest.”
This diluted the genuine promoters’ shareholding from 50% to a mere 20% each. Through the allotment Mr. Kalanithi is deriving benefits by way of dividends to the tune of a huge sum of ₹5,926 crore till 2023 and ₹455 crore in 2024 alone, the notice claimed.
