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In a filing on the stock exchanges, Sun TV said that the “alleged matter dates back to 22 years when the Company was a closely held private limited company” and the statements made in it are “incorrect, misleading, speculating, defamatory and not supported by facts or law.
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JOTHI RAMALINGAM B
As DMK MP Dayanidhi Maran levelled charges of corporate fraud against his brother and Sun TV executive chairman Kalanithi Maran, the company on Friday refuted the claims in the legal notice.
In a filing on the stock exchanges, Sun TV said that the “alleged matter dates back to 22 years when the Company was a closely held private limited company” and the statements made in it are “incorrect, misleading, speculating, defamatory and not supported by facts or law.
“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,” the company added, further noting that the matters alleged in the articles does not have any bearing on the business of the company or its day-to-day functioning”
It is a family matter of the promoter are purely personal in nature, the company added in its response to exchanges.
The stock traded 2.70 per cent lower on the BSE at ₹596.95 as at 12.18 pm. It tanked 5 per cent in early trade, hitting a low of ₹581.55. It opened at ₹599.95 on the BSE against previous close of ₹613.50.
Among other things, a legal notice served by Dayanidhi on Kalanithi, dated June 10, claims that the latter in collusion with seven other associates (one of whom is Kalanithi’s wife) fraudulently acquired majority control of the media conglomerate Sun TV, and other family-owned entities.
The notice also claimed that Kalanithi had unlawfully obtained various financial benefits over the last 20-year period, and also presented false information in the Red Herring Prospectus that Sun TV filed when they went public in 2006.
Published on June 20, 2025
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