Sun TV refutes Maran brothers' dispute claims
Dayanidhi Maran, a DMK MP, has sent a legal notice to his brother Kalanithi Maran, who runs Sun TV Network.
He claims Kalanithi gave himself 12 lakh shares back in 2003 at just ₹10 each, while the market price was way higher—around ₹2,500-3,000 per share.
This move allegedly shrank the original promoters' and the Karunanidhi family's stake in Sun TV from 50% each down to about 20% each.
Dayanidhi demands restoration of original shareholding structure
Dayanidhi says the share allotment happened without board or shareholder approval and calls it "fraudulent."
He also accuses Kalanithi of shifting shares to other family members without permission.
The demand: restore the original shareholding structure as of September 15, 2003, and return any dividends or assets gained from these actions.
Sun TV calls allegations 'defamatory'
Sun TV isn't having it—they called the allegations "incorrect" and "defamatory," saying everything was legally vetted when they were still a private company.
They also made it clear this is a family dispute and doesn't affect how Sun TV does business.
The Marans are big names in Tamil Nadu's media
The Marans are big names in Tamil Nadu's media and politics—Sun TV was co-founded with the Karunanidhi family.
Today, Kalanithi controls about 75% of Sun TV's assets.
This clash brings up old tensions over control that have lingered since their father passed away in 2003.