Sun TV Network emphasised that the matter is personal, pertaining to the promoter's family, and has no bearing on the business or operations of the firm.
Published Jun 20, 2025 | 6:25 PM ⚊ Updated Jun 25, 2025 | 6:39 PM
Sun TV emphasised that the matter is personal, pertaining to the promoter's family, and has no bearing on the business or operations of the firm.
Synopsis: In a regulatory filing to the BSE and NSE, Sun TV Network Ltd said recent media reports of a legal dispute between Kalanithi Maran and Dayanidhi Maran were “incorrect, misleading, speculative, and not supported by facts or law”.
Sun TV Network Limited has officially denied reports of a legal dispute between its Chairman and Managing Director Kalanithi Maran, and his younger brother, DMK MP Dayanidhi Maran, deeming it “personal”.
In a regulatory filing to the BSE and NSE under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR), the company described recent media articles on the matter as “incorrect, misleading, speculative, and not supported by facts or law”.
The clarification followed media reports that Dayanidhi Maran had alleged fraudulent allotment of shares in 2003 when Sun TV was a closely held private company. The reports claimed that shares worth several thousand crores today were issued at face value to a select few, allegedly excluding Dayanidhi.
Additionally, the reports also said Dayanidhi had sent a notice to Kalanithi and others. However, Sun TV’s regulatory filing on Friday, 20 June, did not mention the notice – either to confirm or deny.
Sun TV, however, stated that the issue dates back 22 years and that all actions had been carried out in compliance with applicable laws and vetted by appropriate authorities before the company went public. The company emphasised that the matter is personal, pertaining to the promoter’s family, and has no bearing on the business or operations of the firm.
Crucially, Sun TV clarified that no legal notice has been sent to any media organisation, countering earlier claims circulating in the press.
Earlier reports said that in a notice dated 10 June, Dayanidhi accused Kalanithi and seven others, including his wife Kaveri Maran, senior financial consultants, the family’s chartered accountant, company officials, and close associates, of “fraudulent practices,” including allegations of “cheating and money laundering.”
The former Union minister sought to restore the original shareholding structure of the company as established in 2003, the reports said.
