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The ineligible notice, dated June 10, 2025, has been delivered to Kalanithi Maran and 7 different recipients, including his spouse, Kaveri Maran. This announcement was issued by K Suresh of Law Dharma, a research-driven litigation support institution pinch agency locations successful Santhome, Chennai.
DMK MP Dayanidhi Maran has sent a ineligible announcement to his brother, media baron Kalanidhi Maran, alleging fraud and breach of trust.
In a melodramatic move wrong nan powerful Sun TV family, DMK MP and erstwhile Union Minister Dayanidhi Maran has sent a ineligible announcement to his relative Kalanidhi Maran, accusing him and 7 others of fraud, criminal breach of trust, and cheating. Kalanidhi's wife, Kaveri Maran, is besides mentioned successful nan notice.
The ineligible announcement accuses Kalanidhi Maran, nan caput of nan Chennai-based media conglomerate, of participating successful what it characterises arsenic "deceptive practices," specified arsenic "fraudulence and money laundering."
The ineligible announcement alleges that pursuing their father’s decease successful 2003, shares were transferred to their mother, Mallika Maran, without basal ineligible archiving specified arsenic nan decease certificate aliases ineligible heir certificate—documents that were reportedly processed only overmuch later. This, nan announcement claims, was a deliberate move to alteration nan eventual transportation of shares to Kalanidhi Maran.
The ineligible announcement alleges that connected September 15, 2003, Kalanidhi Maran—referred to arsenic “No. 1” successful nan document—illegally and unilaterally allotted 12 lakh equity shares of Private TV Network Ltd. to himself astatine a nominal worth of ₹10 per share, without adjacent valuation, capable consideration, aliases nan consent of nan different shareholders. At nan time, nan shares were allegedly worthy betwixt ₹2,500 and ₹3,000 each. The announcement describes this move arsenic fraudulent, a criminal breach of trust, and a usurpation of shareholder rights, further claiming that Kalanidhi appropriated 60% of nan company’s shares without consulting aliases obtaining support from nan original mostly shareholders.
The archive besides points retired that nan institution was successful a sound financial position during that play and had nary request for caller capital, raising superior questions astir nan intent and justification down issuing caller shares.
Further, nan announcement claims that complete Rs 8,500 crore has been invested crossed various world and Indian REIT costs and communal funds, citing linked savings accounts arsenic portion of nan alleged irregularities.
The ineligible announcement besides alleges that Kalanidhi Maran revenge a misleading reddish herring prospectus earlier SEBI, NSE, and BSE, utilizing fraudulent documents, pinch nan intent to database nan company’s shares successful connivance pinch lead managers—a move Dayanidhi claims was portion of a larger conspiracy.
Kalanidhi Maran is nan existent mostly stakeholder successful nan publically traded Sun TV Network, holding a 75 percent ownership stake. He is recognized arsenic 1 of India's wealthiest entrepreneurs, boasting a nett worthy of $2.9 billion.
The announcement states that Dayanidhi Maran intends to petition a general enquiry by nan Serious Fraud Investigation Office (SFIO) of nan government. These alleged actions are considered terrible violations of institution and criminal statutes, including nan unlawful believe of money laundering.
Demanding afloat redressal, Dayanidhi Maran has besides called for restoring nan company's ownership building to its original shape from 2003, referencing nan practice of their deceased father, SN Maran (commonly known arsenic Murasoli Maran), and MK Dayalu, nan spouse of nan erstwhile Chief Minister of Tamil Nadu, M. Karunanidhi.
The notice, dated June 10, 2025, demanded returning each shares, dividends, assets, and monetary gains that were allegedly appropriated unlawfully complete nan past 2 decades.
Failing to meet these demands, nan announcement warns that civil, criminal, regulatory, and enforcement proceedings will beryllium initiated against Kalanidhi Maran and others named successful nan notice.
This announcement was issued by K Suresh of Law Dharma, a research-driven litigation support institution pinch agency locations successful Santhome, Chennai
The shares of Sun TV Network Ltd closed astatine Rs 613.50, down by 0.74%, connected Thursday.
Published on: Jun 19, 2025 8:35 PM IST
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