Dispute between Dayanidhi Maran and Kalanithi Maran is worth Rs…; who is richer among the two brothers?
DMK MP Dayanidhi Maran has sent a legal notice to his elder brother Kalanithi Maran– the billionaire chairman and founder of Sun Group, one of India’s largest media conglomerates– alleging that Kalanithi committed fraud in 2003, when he received 12 lakh shares of the Sun TV network, allegedly without the board’s approval.
How much money is dispute worth?
In the legal notice, Dayanidhi Maran claimed that before the share transfer, Kalanithi Maran did not have single share of the company to his name, but fraudulently managed to acquire 12 lakh equity shares without board approval. At the time, Sun TV shares traded at Rs 10 apiece, and the company were valued at around Rs 3000 crore.
Thus the dispute between the Maran brothers is worth Rs 3000 crore.
Dayanidhi alleges that in 2003, immediately after the demise of their father, Murasoli Maran, Kalanithi fraudulently registered 12 lakh shares in his name, when the family was still in mourning. Kalanithi allegedly flouted corporate laws and transferred the shares without permission from the company’s board.
As per Dayanidhi’s notice, Kalanithi Maran has received Rs 5,926 crore as dividend in 20 years, including Rs 455 crore in 2024 alone.
Who are the Sun TV stakeholders?
In his notice, Dayanidhi asserted that after their father’s demise, both brothers should have received and equal 50-50 stake in the company, but Kalanithi fraudulently transferred 12 lakh equity shares to his name, which gave him a 70 percent ownership in the business. His stake has currently expanded to 75 percent.
Former Union Minister and DMK leader Murasoli Maran, launched TV Network in 1993, which currently operates 37 satellite channels, ranging from entertainment to news and infotainment, reaching around 14 crore viewers across the country. Over the years, the Sun Group has also expanded into radio, newspapers and DTS broadcasting.
Currently, the market cap of the Sun TV network is pegged at around Rs 24,000 crore.
Dayanidhi Maran or Kalanithi Maran– who is wealthier?
According to Forbes, Sun Group chief Kalanithi Maran has a net worth of $2.8 billion, making him richer than his brother Dayanidhi Maran, at least on paper. Additionally, Kalanithi Maran’s daughter, Kavya Maran, owns the Sunrisers Hyderabad IPL franchise, and the Maran family recently acquired a county cricket team in England for Rs 1,094 crore.
Kalanithi receives an annual package of Rs 87.50 crore from Sun TV Network, while his wife Kaveri Maran, who is an executive director in the company, also gets an annual package of Rs 87.50 crore.
In contrast, Kalanithi’s younger brother, Dayanidhi Maran, has total assets worth Rs 11.67 crore, in addition to a bank balance of Rs 2 crore, and gold worth Rs 50 lakh, according to mandatory declarations he made ahead of the 2023 state polls.
Further, Dayanidhi has invested Rs 60 lakh is shares of a few companies, and has Rs 2 lakh in PF account and an L&T policy of Rs 6 lakh. According to details, the DMK leader has movable assets worth Rs 3.65 crore and a 3,000 square feet land in terms of immovable property.
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