Sona Comstar, part of the Rs 30,000 crore Sona Group, sent a cease-and-desist notice to Rani Kapur, mother of late Chairman Sunjay Kapur, accusing her of defamation and disrupting company operations
Rani Kapur Sunjay Kapur Priya Sachdev
Sona Comstar, part of the Rs 30,000 crore Sona Group, has issued a cease-and-desist letter to Rani Kapur, the mother of former Chairman Sunjay Kapur, who died in England in June.
According to the letter, Rani Kapur, who claimed majority shareholder status last week and claimed she was "coerced" into signing documents supporting her daughter-in-law, Priya Sachdev Kapur,'s, candidacy as a non-executive director, defamed the firm and caused it harm.
Rani Kapur and her advisers have not yet answered. Rani Kapur issued an e-mail last week demanding that Sona Comstar postpone its annual general meeting.
Ranu Kapur's claims regarding Sona Comstar
She claimed that she was pressured into signing documents she did not understand and was not given the time to do so. Rani Kapur further claimed that information from "well-wishers" had shown "gross illegalities" in the way the company was run.
She also claimed to be the only beneficiary of her late husband Surinder Kapur's inheritance, who is largely credited with pioneering the country's auto components business. That estate, she claims, includes a majority share in the Sona Group, which includes Sona Comstar.
Sona Comstar's parent company, Sona BLW Precision Forgings Ltd., maintained that Ms Kapur had "not been a shareholder since 2019" and hence had no cause to postpone this or any previous AGM.
According to Sona BLW, a "declaration of significant beneficial ownership" in May 2019 listed Sunjay Kapur as the "sole beneficial owner..." Priya Sachdev Kapur, his wife, was thereafter nominated to the board.
It was noted that institutional and public investors own 72 percent of the shares, while "the promoter entity holds a stake of 28 percent and exercises no special rights or control."
Rani Kapur told news agency ANI on Tuesday that she still does not know what caused her son's death, adding, "I'm old now. "I need closure before I leave..."
About Sunjay Kapur's demise
Sunjay Kapur, 53, passed away while playing polo in London on June 12. The cause of death was recorded as heart arrest, and there were unsubstantiated rumours that he had anaphylactic shock.
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