Sun TV Network clarifies withdrawal of legal notices involving promoter's family
Sun TV Network Limited witnessed a sharp 6% jump in its share price following a significant development involving the promoter's family. As of 12:38 PM, the shares were trading 6.03% higher at Rs 582.75.
The company announced that all legal notices issued by a family member to the promoter, his relative, and unrelated individuals have been unconditionally and irrevocably withdrawn. This update effectively resolves the personal legal dispute that had been making headlines recently.
In its latest filing to the stock exchanges, Sun TV stated that it has now been informed by the promoter about the withdrawal of all legal notices and confirmed that the issues stand resolved. The company reiterated that these matters were personal in nature and had no bearing on its business operations, management, or day-to-day functioning.
Sun TV had initially disclosed the matter on June 20, 2025, clarifying that the allegations did not impact corporate affairs. The recent withdrawal reassures investors and stakeholders, reflecting stability within the promoter's family and reaffirming that the company's core activities remain unaffected.
With this issue now settled, Sun TV is expected to continue its steady business trajectory, maintaining confidence among shareholders and the market.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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