**Tensions Rise in Sona Comstar: A Family Saga Unfolds**
The current tensions surrounding Sona Comstar can be traced back to a series of events that occurred between 2017 and 2019. During this time, Rani Kapur, the matriarch of the Kapur family and mother of Sunjay Kapur, stepped down from the board of the promoter firm Aureus and transferred her shareholding to the RK Family Trust. Aureus, which holds approximately 28.02% of the promoter stake in Sona Comstar—valued at around ₹8,000 crore—represents the Kapur family’s interests on the board through a nominee director. Sona Comstar is publicly traded on the BSE and NSE under the name Sona BLW Precision Forgings Ltd.
The transition of ownership and authority at Aureus coincided with Sunjay Kapur’s marriage to Priya Sachdev in April 2017, as revealed by Mint’s analysis of publicly available filings. The reasons behind this transfer of ownership and control remain unclear, raising questions about whether it was part of a planned succession strategy. Attempts to reach Rani Kapur, Priya Kapur, and Sona Comstar for clarification went unanswered. However, an Aureus spokesperson stated that Rani Kapur’s decision to settle the shares into the trust in 2017 was voluntary and part of a strategic plan aimed at revitalizing the business and ensuring a smooth family succession.
The spokesperson elaborated that in 2017, Sona Comstar was not the successful company it is today; it was struggling with negative EBITDA and significant debt. The turnaround was spearheaded by Sunjay, who repositioned the company and attracted private equity investment. The overall structure of the company was also scrutinized by SEBI during the Sona Comstar IPO on June 24, 2021. Furthermore, the spokesperson noted that since 2017, Sunjay has implemented structures to ensure that Rani Kapur is financially supported in a manner consistent with her lifestyle, a support system that continues through Sunjay’s wife following his passing.
**Background of Ownership Changes**
In June 2015, following the death of her husband Surinder Kapur, the former chairperson of Sona Comstar and father of Sunjay, Rani Kapur acquired a 42% stake in Aureus (then known as Sona Autocomp Holding Pvt. Ltd). In a recent letter to the Sona Comstar board, Rani claimed that a will executed by her late husband on June 30, 2015, designated her as the sole beneficiary of his estate. Until 2016, decision-making at Aureus was a joint effort between Rani and Sunjay. A board meeting on June 28 of that year resulted in a resolution allowing both family members to sign official documents, and on the same day, Rani formally requested reappointment as a director of Aureus, although the duration of her tenure remains unclear.
**Conclusion**
The unfolding events within the Kapur family and their implications for Sona Comstar highlight the complexities of family-run businesses, particularly during transitions of power and ownership. As the situation develops, stakeholders will be keenly observing how these dynamics will influence the future of Sona Comstar.
**FAQ**
**What led to the tensions within Sona Comstar?**
The tensions stem from a series of ownership and control changes at Aureus between 2017 and 2019, particularly following Rani Kapur’s decision to transfer her shares to a family trust and the subsequent management changes.
