Clash of Titans

In a dramatic turn within the powerful Sun TV family, the office of which is located in MRC Nagar, R A

Puram, DMK MP and former Union Minister Dayanidhi Maran has sent a legal notice to his brother

Kalanidhi Maran, accusing him and seven others of fraud, criminal breach of trust, and cheating.

Kalanidhi's wife, Kaveri Maran, is also mentioned in the notice.

The notice accuses Kalanidhi Maran, the head of the Chennai-based media conglomerate, of

participating in what it characterizes as "deceptive practices," such as "fraudulence and money

laundering."

The legal notice alleges that following their father’s death in 2003, shares were transferred to their

mother, Mallika Maran, without essential legal documentation such as the death certificate or legal heir

certificate—documents that were reportedly processed only much later. This, the notice claims, was a

deliberate move to enable the eventual transfer of shares to Kalanidhi Maran.

The legal notice alleges that on September 15, 2003, Kalanidhi Maran—referred to as “No. 1” in the

document—illegally and unilaterally allotted 12 lakh equity shares of Private TV Network Ltd. to himself

at a nominal value of ₹10 per share, without fair valuation, adequate consideration, or the consent of

the other shareholders. At the time, the shares were allegedly worth between ₹2,500 and ₹3,000 each

The notice describes this move as fraudulent, a criminal breach of trust, and a violation of shareholder

rights, further claiming that Kalanidhi appropriated 60% of the company’s shares without consulting or

obtaining approval from the original majority shareholders.

The document also points out that the company was in a sound financial position during that period and

had no need for fresh capital, raising serious questions about the intent and justification behind issuing

new shares.

Further, the notice claims that over Rs 8,500 crore has been invested across various international and

Indian REIT funds and mutual funds, citing linked savings accounts as part of the alleged irregularities.

The legal notice also alleges that Kalanidhi Maran filed a misleading red herring prospectus before SEBI,

NSE, and BSE, using fraudulent documents, with the intent to list the company’s shares in connivance

with lead managers—a move Dayanidhi claims was part of a larger conspiracy.

Kalanidhi Maran is the current majority stakeholder in the publicly traded Sun TV Network, holding a 75

percent ownership stake. He is recognized as one of India's wealthiest entrepreneurs, boasting a net

worth of $2.9 billion.

The notice states that Dayanidhi Maran intends to request a formal inquiry by the Serious Fraud

Investigation Office (SFIO) of the government. These alleged actions are considered severe violations of

company and criminal statutes, including the unlawful practice of money laundering.

Demanding full redressal, Dayanidhi Maran has also called for restoring the company's ownership

structure to its original form from 2003, referencing the heritage of their deceased father, SN Maran

(commonly known as Murasoli Maran), and MK Dayalu, the spouse of the former Chief Minister of Tamil

Nadu, M. Karunanidhi.

The notice, dated June 10, 2025, demanded returning all shares, dividends, assets, and monetary gains

that were allegedly appropriated unlawfully over the past two decades.

Failing to meet these demands, the notice warns that civil, criminal, regulatory, and enforcement

proceedings will be initiated against Kalanidhi Maran and others named in the notice.

This notice was issued by K Suresh of Law Dharma, a research-driven litigation support company with

office locations in Santhome, Chennai. The shares of Sun TV Network Ltd closed at Rs 613.50, down

by 0.74%,

Sun TV Network Limited responding to news reports on DMK MP and former Union Minister Dayanidhi

Maran issuing a legal notice to his elder brother Kalanithi Maran who is the Chairman of Sun TV Network

and to others, said the allegations are incorrect, misleading, speculating, defamatory and not supported

by facts or law. 

“This is in reference to the news articles appearing in various media in relation to certain matters

between the Promoter of Sun TV Network Limited and his family member. The alleged matter dates

back to 22 years when the Company was a closely held private limited Company,” Sun TV said in a stock

exchange filing. 

“We wish to inform that all acts have been done in accordance with legal obligations and the same had

been duly vetted by concerned intermediaries before the public issue of the Company. We are not

aware of any negotiations/events towards settlement in the promoter’s family,” the statement said.

The matters alleged in the articles does not have any bearing on the business of the company or its day-

to-day functioning and being the family matter of the Promoter are purely personal in nature, it added.

Sun TV shares, which were down by 4% in the morning trade, pared some losses after the company’s

statement. The stock closed at ₹606.80, down by 1.09%. On National Stock Exchange (NSE), the

company’s shares closed at ₹605.75, down by 1.05%.