Sona claims late chief’s mother not shareholder amid coercion charge

Sona Comstar on Friday stated that former chairman Sunjay Kapur’s mother, Rani Kapur, is not a shareholder of the company as the family feud escalated with the latter alleging coercion.

The company proceeded with its annual general meeting despite requests for deferment from Kapur’s mother. The dispute centres around the role of Sunjay’s wife Priya Sachdev Kapur in the company’s leadership.

“As per company records, Rani Kapur has not been a shareholder of the Company at least since 2019. Priya Sachdev Kapur (wife of Sunjay Kapur) was appointed as a Non-Executive Director based on a nomination received from M/s Aureus Investments Private Limited. Her appointment was duly reviewed by the Board’s Nomination and Remuneration Committee and approved by the Board of Directors of the Company,” the company worth over Rs 300 crore said in statement.

According to reports, Priya’s appointment has triggered concerns and resistance from Rani Kapur.

The automotive technology company explained that since Rani was not a shareholder, they could not defer the annual general meeting. Sona Comstar further stated that the meeting was conducted on schedule and in full compliance with applicable laws and regulatory frameworks.

According to reports, Rani Kapur had requested a two-week deferment of the annual general meeting. Additionally, she alleged that she was pressured into signing certain documents and engaged in other activities during a period of mourning following her son’s sudden death.

“For clarity, the Company confirms that no documents have been signed or obtained from Mrs Rani Kapur by the Company following the passing of Mr Sunjay Kapur,” the company clarified in the statement.

Sunjay Kapur, actor Karisma Kapoor’s ex-husband and the chairman of auto components manufacturer Sona Comstar, passed away at the age of 53 in June due to a heart attack while playing polo. It is believed that he had swallowed a bee during the match.

Sona Comstar is a public limited company listed in Indian indices since June 2021, with 71.98% public shareholding and 28.02% held by its corporate promoter, M/s Aureus Investments Private Limited.

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