Sun TV Network is making headlines—but not for its shows. On June 20, the media giant’s shares dropped more than 4% as a family feud between the Maran brothers went public.
DMK MP and former Union Minister Dayanidhi Maran has sent a legal notice to his elder brother, Kalanithi Maran, accusing him of fraud, cheating, and money laundering. This comes as a shock to many, as Kalanithi currently owns 75% of Sun TV Network and is one of India’s richest businessmen.
A Family Feud Turns Legal
According to reports from Moneycontrol, the dispute centers on shareholding practices going back to 2003. Dayanidhi claims that after their father SN Maran (Murasoli Maran) died, shares meant to be jointly held by the family were allegedly transferred to their mother Mallika Maran—without proper documentation.
Then, on September 15, 2003, Kalanithi allegedly allotted himself 12 lakh equity shares at just Rs 10 each. At that time, the real value of each share was between Rs 2,500 to Rs 3,000. The legal notice calls this move a criminal breach of trust and claims it reduced the family’s share from 50% to just 20%.
Questions Over Sun TV’s IPO
The notice also attacks Sun TV Network’s Red Herring Prospectus (RHP) filed in 2006. It claims that the RHP misled stakeholders by stating that Rs 10.64 crore in dividends had been paid to Mallika Maran by December 2005. However, Dayanidhi alleges that this money was never paid via official dividend channels.
If these claims hold, they could point to serious violations in SEBI norms and company law.
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The company has already lost 21% value over the past year. With a market cap of around Rs 24,000 crore, this drop isn’t small change.
The company’s 52-week high was Rs 921, while the low sits at Rs 549.3—a range that’s now under pressure from this unfolding legal storm.
A Legacy at Stake
This battle isn’t just about money. It also ties back to the legacy of Murasoli Maran, a respected DMK leader, and MK Dayalu, wife of the late Tamil Nadu Chief Minister Karunanidhi. The legal notice demands that the original shareholding structure from 2003 be restored.
What’s Next?
With one brother holding political power and the other holding corporate control, this fight could get even messier. It may also attract regulatory scrutiny and rattle investor confidence further.
One thing’s clear: Sun TV Network has entered a turbulent chapter—and not one of its own making.
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