Sun TV Network on Monday said all legal notices issued against its promoter and executive chairman Kalanithi Maran by his family members have been unconditionally and irrevocably withdrawn, bringing the dispute to a close.
“We would like to inform you that we have now been informed by the promoter of the company that all the legal notices issued by the family member to the promoter of the company, his relative and other unrelated individuals have been unconditionally and irrevocably withdrawn by the said family member and the issues hereby stand resolved,” the Chennai-headquartered media giant said in an exchange filing.
The Allegations That Sparked the Feud
The filing comes more than a month after Dravida Munnetra Kazhagam (DMK) MP and Kalanithi Maran’s younger sibling, Dayanidhi Maran, accused his brother of fraudulent practices, including cheating and money laundering. The younger Maran had allegedly served a legal notice demanding that Sun TV Network’s shareholding structure be restored to its original form as on September 15, 2003.
According to the notice, following the death of their father and former Union minister Murasoli Maran in 2003, Sun TV shares were transferred to their mother, Mallika Maran, without proper legal documentation such as a death certificate or legal heir certificate — which were issued only later. It alleged that this transfer enabled the eventual movement of shares to Kalanithi Maran, who currently holds 75% of the South Indian media group.
Sun TV Network’s Response
In June, Sun TV rejected the allegations, calling the fraud and money laundering claims against its promoter “incorrect and misleading.” The company added that the accusations date back 22 years, when it was a closely held private limited entity.
“We reiterate that the issue of the legal notices and the withdrawal of such legal notices do not pertain to the business or management of the company or its day-to-day functioning and being the family matter of the promoter are purely personal in nature,” the company said in its latest exchange filing.
Shares of Sun TV rose over 5% intraday on Monday to ₹579.30 on the NSE.