A little over a month after the 46-year-old businessman Sunjay Kapur, ex-husband of actor Karisma Kapoor, died of a heart attack during a polo game in London, his family firm, the Sona Comstar, is going through rough times. In her turn, the mother of Sunjay, Rani Kapur, has sent a strongly worded letter to the board of directors of the company, citing deceit and duress as the reasons for her son’s death and claiming mismanagement of the situation.
Rani Kapur (the majority shareholder of the Sona Group) wrote in her letter that she was continuously being approached and made to sign a number of documents without any clarification. According to her, she was signed “behind locked doors, and no opportunities to read and analyse the content” as she was signed; she wrote that and this happened in times of great mental and emotional unrest in her.
A market capitalisation of approximately 30000 crore, and most of its stock is owned by the stockholders, whereas the rest of the 28 per cent, worth an approximate 8200 crore, is owned by its corporate promoter, the Aureus Investments Private Limited. The letter, which was sent by Rani Kapur, is said to have been sent prior to the annual general meeting (AGM) of the company, and it requested the board to delay the meeting by a couple of weeks.
She also claimed that her personal bank accounts have been restricted, and she has been condemned to the mercy of the whims of just a few so as to survive. Pointing to the will of her late husband, Surinder Kapur, dated June 30, 2015, she has stated that she was the sole heir to his estate, as well as the largest shareholder of the Sona Group.
By declaring that trying to take the family legacy, through such a time of mourning, is a ludicrous effort, she not only wrote on the liquidity of the matter, but asked them to be as transparent and just, as well as sending this plea off to the Securities and Exchange Board of India (SEBI), to act accordingly.
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