Sona Comstar says Rani Kapur not a shareholder; confirms rejecting her request to postpone AGM

Economic Times

25-07-2025

Auto components major Sona BLW Precision Forgings Ltd (Sona Comstar) on Friday said it did not defer its Annual General Meeting despite an email request from Rani Kapur, former Chairperson of the co and widow of late industrialist Dr Surinder Kapur, clarifying that she is not a shareholder of the company and that the AGM was held as scheduled in full compliance with the law.'Based on the legal counsel and the fact that Mrs. Kapur is not a shareholder of the Company, the Company concluded that it could not defer the AGM,' the company informed the exchanges after going ahead with its AGM. The company said it received an email from Rani Kapur late on July 24, 2025, requesting a deferment of the AGM that was scheduled for the following day. It added that the request was carefully reviewed, and legal advice was sought before arriving at a decision.'Late on 24 July 2025, an email was received from Mrs. Rani Kapur requesting a deferment of the AGM. Given our respect for Mrs. Kapur, the Company sought urgent legal advice from one of India's most reputed law firms in relation to the legality of proceeding with the AGM of the Company.'
Also read: Sona BLW Precision holds AGM despite Rani Kapur's objection and questions on son Sunjay's 'suspicious' death
Sona Comstar, which has been a publicly listed company since June 2021, noted that 71.98% of its shareholding is with the public, while the remaining 28.02% is held by its corporate promoter, Aureus Investments Private Limited (AIPL).
The company said that in May 2019, it had received a declaration of significant beneficial ownership that identified the late Sunjay Kapur as the sole beneficial owner of the RK Family Trust, a significant shareholder in AIPL. It added that, as per its records, 'Mrs. Rani Kapur has not been a shareholder of the Company at least since 2019.'
ET Online had earlier reported that Rani Kapur had written to the company's Board and shareholders requesting a deferment of the 29th Annual General Meeting of Sona Comstar.
In her communication, Kapur cited the 'deep mourning' period following the death of her son, Sunjay Kapur, on June 12 in the United Kingdom, and urged the company to postpone the meeting. She described the circumstances surrounding his death as 'sudden and suspicious' and alleged that no formal explanation or documentation had been shared with her.Kapur also alleged that she was made to sign several documents in a vulnerable state after her son's passing, without being informed of their content. 'The contents of such documents have never been revealed to me,' she wrote, adding that these documents were 'executed by me under coercion and duress… at a time of mental and emotional vulnerability," Kapur said in the letter accessed by ET Online. She raised objections to recent developments within the company's leadership, claiming that Board appointments were being pursued without her knowledge or consent. 'I have not given any consent or officially nominated any person to come on the Board... or represent me in any capacity,' she stated.
Also read: Sunjay Kapur's death 'suspicious', compelled to sign documents: Rani Kapur has a lot to say in this letter to Sona Comstar board Kapur further called for a two-week deferment of the AGM, citing inadequate transparency and saying the proposed resolutions 'could have long-term implications.' Her legal representative, Senior Advocate Vaibhav Gaggar, confirmed the contents of her letter to ANI and said she was not initiating legal proceedings at the moment but was seeking a pause in proceedings to ensure informed decision-making.Sunjay Kapur, Chairman of Sona Comstar and a prominent figure in Indian business circles, passed away in London on June 12, 2025. He reportedly suffered a heart attack while playing polo in the United Kingdom.His final rites were conducted at the Lodhi Road Cremation Ground in New Delhi on June 19 in the presence of close family members and associates.Sunjay Kapur had previously been married to actor Karisma Kapoor, with whom he has two children—Samaira and Kiaan. The couple divorced in 2016. He later married Priya Sachdev, and the couple has a son named Azarias.