A family dispute has erupted at India’s largest listed media entity Sun TV Networks Ltd, with former telecom minister Dayanidhi Maran crossing swords with billionaire brother Kalanithi Maran.
In a legal notice, Dayanidhi, a member of Parliament from the Dravida Munnetra Kazhagam (DMK), accused his brother and several others of “fraudulent practices” and “misgovernance” in taking control of Sun TV after their father Murasoli Maran’s death in 2003. Dayanidhi also sought to restore Sun TV’s 2003 shareholding structure.
This implies that Dayanidhi and his sister, Anbukarasi Maran, along with current chief minister of Tamil Nadu, M.K. Stalin, and his two brothers and sister, would be the owners of Sun TV, as Kalanithi did not own any shares in the company 22 years ago. Dayanidhi warned that he would seek a probe by the Serious Fraud Investigation Office (SFIO) of the Ministry of Corporate Affairs if his brother refuses to comply.
“All of you have fraudulently brought down the shareholding of my client’s parents from 50% to 1 single share whereas No.1 (Kalanithi) of you being an ex-employee who did not even own one share is now holding more than 75% shareholding of the company, without even employing any of your self earned money,” said a notice, dated 10 June, sent by K. Suresh, a lawyer representing Dayanidhi Maran, to eight executives. Mint has seen a copy of the notice.
Seven other executives served with the legal notice are Kalanithi’s wife and Sun TV executive Kaveri Kalanithi, compliance officer Ravi Ramamoorthy, two chartered accountants and other financial executives.
Dayanidhi also claims in the legal notice that their father died intestate, that is, without leaving a will.
Dayanidhi, 58 and Kalanithi, 60, are sons of former Union minister Murasoli Maran and the grandnephews of M. Karunanidhi, former chief minister of Tamil Nadu. Their uncle Stalin is the current chief minister of Tamil Nadu and the president of DMK.
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The legal notice
The legal notice said Sun TV, founded in 1985, had two shareholders: Karunanidhi’s second wife M.K. Dayalu, and Murasoli Maran’s wife Mallika Maran.
Kalanithi owns 75% of Sun TV, which had a market capitalization of ₹24,356.4 crore at the end of Thursday’s trading. According to Forbes, Kalanithi is estimated to be worth $2.9 billion.
“In order to take over the entire company and its assets for the personal benefit of No.1 (Kalanithi Maran) & 2 (Kaveri) of you, No.1 of you orchestrated a deceptive and devious plan in active conspiracy with No.2 to 8 of you. As part of executing your premeditated fraudulent scheme, taking advantage of the family’s situation, especially when my client’s father’s health was critically ill, that he could pass away at any moment and the entire family was concerned about his deteriorating health, No.1 of you and No.2 of you commenced your first illegal activity in September 2003,” said the legal notice.
“With a sinister and premeditated intent to unlawfully eliminate the legitimate rights and interests of the other family stakeholders and to clandestinely usurp absolute control over the said corporate entities, No.1 (Kalanithi Maran) of you have orchestrated the falsification of company records and manipulated statutory registers to create an illusion that the said equity shares were transferred and acquired by No.1 of you at a paltry Rs.10/- per share on 10.11.2005,” it added.
“It is very unfortunate,” an executive privy to the development said, adding, “It is a private family matter. Since a legal notice about some properties has been sent, I’m sure Kalantihi will respond accordingly”.
“This has been simmering for a long time now, ” said a second executive, adding that Dayanidhi and Kalanithi had reportedly not spoken to each other for several years.
Text messages and calls to Dayanidhi and Kalanithi went unanswered. Dayanidhi’s lawyer Suresh did not respond to texts and calls.
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Family feuds
Dayanidhi is a four-time member of Parliament, having won from Chennai Central constituency in 2024, and has also served as telecom minister between 2004 and 2007.
Sun TV claims to be the country’s largest listed media conglomerate, with 37 TV channels, 69 radio stations, and three daily newspapers, including the Tamil daily Dinakaran. Its film division Sun Pictures owns the SunRisers Hyderabad team in the Indian Premier League.
According to an executive, SunRisers Hyderabad is valued at ₹17,000 crore or $2 billion.
Sun TV ended last year with ₹4,712.6 crore in revenue, 1.6% lower than ₹4787.1 crore at the end of March 2024. Profit fell 11.5% to ₹1703.1 crore.
This latest family dispute comes after earlier this year, politician and real estate businessman Mangal Prabhat Lodha’s two sons, Abhishek and Abhinandan, clashed in court over a disagreement about using the Lodha brand name. After nine rounds of court-appointed mediation and hectic parleys between a battery of lawyers, the two warring brothers finally forged a truce last month.
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