A bitter dispute over control and ownership of the multibillion-rupee media giant has led former Union minister and Dravida Munnetra Kazhagam (DMK) mp dayanidhi maran to drag his brother kalanithi maran, chairman of sun tv Network, the owner of the IPL team Sunrisers hyderabad (SRH), into a legal battle.
Dayanidhi Maran accused his brother kalanithi maran, the father of Sunrisers hyderabad (SRH) CEO Kavya Maran, of financial malfeasance, fraud, and cheating. Dayanidhi has charged Kalanithi with masterminding a deliberate scheme to take over the business by manipulating internal shareholding arrangements more than 20 years ago.
Sunrisers hyderabad (SRH) owner faces explosive allegations from his brother, Dayanidhi Maran
According to the former Union minister, when the family was at its weakest and their father, the late Murasoli Maran, was very sick, his brother assumed charge. In addition to Kalanithi, seven other people—including his wife, kaveri Maran—have also received the legal notice.
The june 10 notice, sent by Chennai-based legal research firm Law Dharma, claims kalanithi maran committed "fraudulent practices," such as "cheating and money laundering."
Under the watchful eyes of political heavyweight Murasoli Maran and MK Dayalu, the wife of former tamil Nadu chief minister M. Karunanidhi, the notice calls for a total reversal of the shareholding structure and a restoration to the original agreement reached in 2003.
Dayanidhi Maran demands sun tv shares back, alleges Kalanithi looted crores
According to Moneycontrol, the letter states: "No. 1 of you, Kalanithi and kaveri Maran, actively conspired with Nos. 2 to 8 of you to construct a fraudulent and cunning plot in order to seize control of the entire firm and its assets for your personal gain.
No. 1 and No. 2 of you started your first illegal activity in september 2003 as part of carrying out your planned fraudulent scheme, taking advantage of the family's circumstances, particularly when my client's father's health was critical and he could die at any time, and the whole family was worried about his declining health."
After their father passed away in 2003, dayanidhi maran submitted a legal notice accusing his brother kalanithi maran, of unlawfully obtaining majority control of sun TV. According to the report, Kalanithi gave himself 12 lakh shares for a pittance, even though they were worth between ₹2,500 and ₹3,000 each.
According to reports, this action decreased the founding family's stake from 50% to 20%. The notice estimates the damage at ₹3,498.8 crore and refers to this as a criminal breach of trust.
It also calls for the Serious Scam Investigation office to look into the suspected ₹3,500 crore scam and highlights Kalanithi's ₹6,381 crore dividend gains. Additionally, a previous family argument about undervaluing MK Dayalu's interest is brought up.
Sunrisers hyderabad (SRH) used for money laundering?
However, Dayanidhi also asserted that sun TV's 2006 red Herring Prospectus contained inaccurate material. The notification stated that sun tv sent their mother, mallika Maran, ₹10.64 crore in dividends in 2005, but that money never materialized.
The summons states, "These proceeds of crime have been utilized to further enrich yourself by the acquisition of valuable assets/companies, such as sun Direct tv Pvt Ltd, Kal Radios Pvt Ltd, Kal Airways Pvt Ltd, Kal Publications Pvt Ltd, Sunrisers hyderabad (SRH), South Asian FM, sun Pictures, a cricket team in South Africa, a cricket team in the United Kingdom, SpiceJet, and other downstream investments."
Dayanidhi charges the business with deceiving the public and concealing the facts. According to the letter, Kalanithi must return all of sun TV's and its affiliated firms' assets and shares to their 2003 original owners.
Additionally, it requests that he and his spouse, Kaveri, refund all earnings that they have earned since that time. Legal action will be taken otherwise. Additionally, he disclosed that Kalanithi had previously ignored a 2024 legal notice and paid their sister Anbukarasi ₹500 crore as part of a private settlement.
Dayanidhi Maran accused his brother kalanithi maran, the father of Sunrisers hyderabad (SRH) CEO Kavya Maran, of financial malfeasance, fraud, and cheating. Dayanidhi has charged Kalanithi with masterminding a deliberate scheme to take over the business by manipulating internal shareholding arrangements more than 20 years ago.
Sunrisers hyderabad (SRH) owner faces explosive allegations from his brother, Dayanidhi Maran
According to the former Union minister, when the family was at its weakest and their father, the late Murasoli Maran, was very sick, his brother assumed charge. In addition to Kalanithi, seven other people—including his wife, kaveri Maran—have also received the legal notice.
The june 10 notice, sent by Chennai-based legal research firm Law Dharma, claims kalanithi maran committed "fraudulent practices," such as "cheating and money laundering."
Under the watchful eyes of political heavyweight Murasoli Maran and MK Dayalu, the wife of former tamil Nadu chief minister M. Karunanidhi, the notice calls for a total reversal of the shareholding structure and a restoration to the original agreement reached in 2003.
Dayanidhi Maran demands sun tv shares back, alleges Kalanithi looted crores
According to Moneycontrol, the letter states: "No. 1 of you, Kalanithi and kaveri Maran, actively conspired with Nos. 2 to 8 of you to construct a fraudulent and cunning plot in order to seize control of the entire firm and its assets for your personal gain.
No. 1 and No. 2 of you started your first illegal activity in september 2003 as part of carrying out your planned fraudulent scheme, taking advantage of the family's circumstances, particularly when my client's father's health was critical and he could die at any time, and the whole family was worried about his declining health."
After their father passed away in 2003, dayanidhi maran submitted a legal notice accusing his brother kalanithi maran, of unlawfully obtaining majority control of sun TV. According to the report, Kalanithi gave himself 12 lakh shares for a pittance, even though they were worth between ₹2,500 and ₹3,000 each.
According to reports, this action decreased the founding family's stake from 50% to 20%. The notice estimates the damage at ₹3,498.8 crore and refers to this as a criminal breach of trust.
It also calls for the Serious Scam Investigation office to look into the suspected ₹3,500 crore scam and highlights Kalanithi's ₹6,381 crore dividend gains. Additionally, a previous family argument about undervaluing MK Dayalu's interest is brought up.
Sunrisers hyderabad (SRH) used for money laundering?
However, Dayanidhi also asserted that sun TV's 2006 red Herring Prospectus contained inaccurate material. The notification stated that sun tv sent their mother, mallika Maran, ₹10.64 crore in dividends in 2005, but that money never materialized.
The summons states, "These proceeds of crime have been utilized to further enrich yourself by the acquisition of valuable assets/companies, such as sun Direct tv Pvt Ltd, Kal Radios Pvt Ltd, Kal Airways Pvt Ltd, Kal Publications Pvt Ltd, Sunrisers hyderabad (SRH), South Asian FM, sun Pictures, a cricket team in South Africa, a cricket team in the United Kingdom, SpiceJet, and other downstream investments."
Dayanidhi charges the business with deceiving the public and concealing the facts. According to the letter, Kalanithi must return all of sun TV's and its affiliated firms' assets and shares to their 2003 original owners.
Additionally, it requests that he and his spouse, Kaveri, refund all earnings that they have earned since that time. Legal action will be taken otherwise. Additionally, he disclosed that Kalanithi had previously ignored a 2024 legal notice and paid their sister Anbukarasi ₹500 crore as part of a private settlement.
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