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. Also read | Mint Explainer: What sparks family feuds in Indian corporations?The legal noticeThe 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 il in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. 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Siblings in conflict: Dayanidhi is requesting Kalanithi to transfer ownership of the media powerhouse Sun TV.
