Chennai: A major intra-family corporate dispute has erupted within one of India’s most prominent media families. Former Union Minister and DMK MP Dayanidhi Maran has issued a legal notice to his elder brother, Kalanithi Maran, chairman and managing director of Sun TV Network, accusing him of orchestrating what he claimed to be a massive corporate fraud to wrest control of the company and related entities using deceptive means.
At the time of filing this report, there was no official response from Kalanithi or the Sun TV Group.
In the legal notice issued through his counsel K Suresh, Dayanidhi alleged that in 2003—while their father S.N. Maran (former Union Minister Murasoli Maran) was in a comatose state—Kalanithi, with the active collusion of close aides and associates, fraudulently allotted 12 lakh equity shares in Sun TV to himself. This allegedly gave him 60% control in the company overnight, at a throwaway face value of ₹10 per share, despite the fair value being around ₹3,000 at the time.
The notice claims that this manoeuvrer caused a notional loss of ₹3,498.8 crore to the company and deprived other rightful shareholders, including Dayanidhi and their sister Anbukarasi, of their legitimate stake. It further accused Kalanithi of using these ill-gotten shares to draw over ₹5,926 crore in dividends until 2023, including ₹455 crore in 2024 alone.
The notice also alleged misuse of funds and investment in multiple entities including SpiceJet, Sun Direct, Sun Pictures, and the Sunrisers Hyderabad IPL team. It demanded full restitution of shares and monetary benefits accrued since 2003 to the legal heirs of S.N. Maran and to co-promoter Tmt. M.K. Dayalu.
It names eight individuals, including Kaveri Kalanithi (wife of Kalanithi Maran), senior executives, chartered accountants, and advisors as co-conspirators in the alleged fraud.
Dayanidhi warned of civil, criminal, and regulatory action if his demands are not met within seven days, including petitions before SFIO, SEBI, ED, DGCA, BCCI, Ministry of I&B, and Registrar of Companies.
