Latest news with #Maran
Time of India
2 days ago
- Politics
- Time of India
Thanjavur scholar wins PM's praise for preserving, promoting Tamil manuscripts
Dr. Mani Maran, a 55-year-old Tamil scholar from Thanjavur, has won praise from for his work in preserving Tamil manuscripts and promoting their interpretation. The Prime Minister appreciated the scholar in his Mann Ki Baat event on Sunday, and called for similar efforts nationwide. Tired of too many ads? go ad free now For the past decade, Maran Manivasagam, aka Mani Maran, has been conducting evening classes near his house where students, working professionals, and researchers learn to read Tamil manuscripts. "I was concerned that the upcoming generation might not learn to interpret Tamil manuscripts. So, I started classes under the name 'Eadagam' to enlighten them about interpreting Tamil palm leaf manuscripts and to understand ancient knowledge," Maran told TOI. The scholar has been working in the Tamil Manuscript department of Saraswathi Mahal Library in Thanjavur for around 25 years. Maran has a doctorate in the subject 'Water Management in Ancient Tamil Literature' from Bharathidasan University. He has been collecting, researching, preserving, and digitising ancient manuscripts on history, science, astrology, medicine, and literature. On Sunday, Maran was taken by surprise as the Prime Minister spoke about him in 'Mann Ki Baat'. Modi called Maran an inspirational personality who has taken the responsibility of preserving extraordinary knowledge. "If such efforts are made across the country, our ancient knowledge will not remain confined within walls; it will become a part of the consciousness of the new generation," he said. Modi cited a govt initiative called 'Gyan Bharatam Mission' in this year's budget, under which ancient manuscripts would be digitised. Tired of too many ads? go ad free now A National Digital Repository would be created, where students and researchers from all over the world would be able to connect with India's knowledge, he said. Thanking the Prime Minister for making him known across the country, Maran said the gesture is encouraging him to do better. "I dedicate the appreciation to my family, historians, colleagues, and superior officials who have been supporting me," he said.
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Business Standard
3 days ago
- Business
- Business Standard
India Inc faces a surge in family feuds amid succession planning vacuum
India's corporate boardrooms are increasingly becoming battlegrounds for bitter family feuds, as a growing wave of wealth clashes with a persistent reluctance to formalise succession plans. The latest flashpoint: the sudden death of 53-year-old Sunjay Kapur, chairman of auto parts maker Sona BLW Precision Forgings Ltd, has triggered a dispute within the Kapur family. His mother, Rani Kapur, has opposed the appointment of Priya Sachdev Kapur—Sunjay's wife—to the company's board. Mistrust and informality inflame conflicts "There's often a mismatch between the mindset of ageing patriarchs and the aspirations of the next gen,' said Ketan Dalal, founder of tax advisory firm Catalyst Advisors. 'Add in unequal levels of contribution and commitment among family members, lack of shareholder agreements, and weak governance, and you have a recipe for prolonged conflict.' The Kapurs now join a swelling list of prominent Indian business families entangled in litigation over control, including the Kirloskars, the Baba Kalyani family, and the Chhabrias of Finolex. In September last year, a dispute broke out between Bina Modi, chairperson of Godfrey Phillips India, and her sons Samir and Lalit, who accused their mother of defying their late father's will by resisting a sale of the company. Maran brothers truce, others still warring Earlier this month, the feuding Maran brothers announced a truce mediated by Tamil Nadu Chief Minister M K Stalin, The Hindu reported on July 8. In the past, acrimonious family feuds have hit almost all conglomerates, including the Ambani brothers—India Inc's most prominent family—as well as older industrial families like the Birlas and the Bajajs. The Mumbai-based billionaire Lodha brothers announced a truce in May after fighting over the 'Lodha' brand for months. Legacy structures, modern ambitions collide Experts attribute the growing discord to opaque ownership structures, informal arrangements, weakening patriarchs and delayed planning. 'Most Indian families that have expanded in size and in business complexity haven't invested in formal ownership or succession frameworks,' said Dalal. 'When circumstances change and there's no framework in place, disputes are inevitable.' India's liberalisation boom over the past two decades has created massive shareholder value and produced a more educated and globalised next generation. Yet, many legacy businesses remain mired in cross-holdings, Hindu Undivided Family (HUF) structures, and unclear promoter arrangements—leaving room for conflict. Governance must match growth: experts The cultural aversion to a formal structure compounds the problem. Another under-discussed factor is the role of advisors. 'Families are often reluctant to bring in objective advisors or are wary of those introduced by other members,' Dalal noted. 'The suspicion delays engagement, and critical issues remain unresolved.' Underlying all of this is what Dalal calls the 'illusion of immortality'—a belief that difficult decisions on succession or ownership can always be deferred. 'But too often, 'later' becomes too late.' As India Inc continues to create wealth at scale, the absence of clear succession roadmaps threatens to fracture legacy businesses—unless families embrace governance and structure as seriously as growth, say experts. 'Irrespective of the age, every family or person must have a clear succession plan in place so that their descendants don't get involved in a bitter public fracas, as it ultimately leads to shareholder wealth destruction,' said a CEO, requesting anonymity.
Mint
6 days ago
- Business
- Mint
SC dismisses plea by KAL Airways, Maran seeking damages: SpiceJet
New Delhi, Jul 24 (PTI) SpiceJet on Thursday said the Supreme Court has dismissed the appeal filed by KAL Airways and Kalanithi Maran seeking damages of over ₹ 1,300 crore and other claims. "With this order, the appeals of KAL Airways and Kalanithi Maran have been finally dismissed and the remaining issue to be decided by the Court is SpiceJet's appeal challenging the (i) interest levied which has also been substantially deposited by SpiceJet in the Court; and (ii) pre-mature refund of CRPS amount by the Arbitral Tribunal," the airline said in a regulatory filing. CRPS refers to Cumulative Redeemable Preference Shares. Maran and KAL Airways are former promoters of SpiceJet. The filing said the Supreme Court on Wednesday dismissed the appeal filed by KAL Airways and Kalanithi Maran seeking damages of more than ₹ 1,300 crore and other claims. "These assertions were already previously rejected by the Arbitral Tribunal, the Delhi High Court and then the Division Bench of Delhi High Court," it added. The case dates back to early 2015 when SpiceJet promoter Ajay Singh, who had owned the airline earlier, bought it back from Maran after it was grounded for months due to resource crunch. As part of the agreement, Maran and KAL Airways claimed to have paid SpiceJet ₹ 679 crore for issuing warrants and preference shares. However, Maran moved court in 2017, alleging SpiceJet had not issued convertible warrants and preference shares nor returned the money. It has been a long-standing share transfer dispute. Shares of SpiceJet were trading 1.84 per cent down at ₹ 39.55 apiece on the BSE.
News18
6 days ago
- Business
- News18
SC dismisses plea by KAL Airways, Maran seeking damages: SpiceJet
New Delhi, Jul 24 (PTI) SpiceJet on Thursday said the Supreme Court has dismissed the appeal filed by KAL Airways and Kalanithi Maran seeking damages of over Rs 1,300 crore and other claims. 'With this order, the appeals of KAL Airways and Kalanithi Maran have been finally dismissed and the remaining issue to be decided by the Court is SpiceJet's appeal challenging the (i) interest levied which has also been substantially deposited by SpiceJet in the Court; and (ii) pre-mature refund of CRPS amount by the Arbitral Tribunal," the airline said in a regulatory filing. CRPS refers to Cumulative Redeemable Preference Shares. Maran and KAL Airways are former promoters of SpiceJet. The filing said the Supreme Court on Wednesday dismissed the appeal filed by KAL Airways and Kalanithi Maran seeking damages of more than Rs 1,300 crore and other claims. 'These assertions were already previously rejected by the Arbitral Tribunal, the Delhi High Court and then the Division Bench of Delhi High Court," it added. The case dates back to early 2015 when SpiceJet promoter Ajay Singh, who had owned the airline earlier, bought it back from Maran after it was grounded for months due to resource crunch. As part of the agreement, Maran and KAL Airways claimed to have paid SpiceJet Rs 679 crore for issuing warrants and preference shares. However, Maran moved court in 2017, alleging SpiceJet had not issued convertible warrants and preference shares nor returned the money. It has been a long-standing share transfer dispute. Shares of SpiceJet were trading 1.84 per cent down at Rs 39.55 apiece on the BSE. PTI RAM DRR view comments First Published: July 24, 2025, 12:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
The Hindu
6 days ago
- Business
- The Hindu
SC dismisses KAL, Maran pleas against Delhi HC order in SpiceJet case
The Supreme Court on Wednesday dismissed special leave petitions filed by KAL Airways and Kalanithi Maran seeking damages of over ₹1,300 crore from SpiceJet in a long-standing share transfer dispute. A Bench of Justices PS Narasimha and AS Chandurkar upheld the Delhi High Court's order of May 23. The High Court refused to condone their delay in filing appeals under Section 37 of the Arbitration and Conciliation Act, 1996 after concluding that they had been 'fence-sitting and were also guilty of deliberate and wilful concealment of facts from the court.' 'We find that on the basis of the material on record, the inference drawn by the Division Bench while refusing to condone the delay cannot be brushed away or that the conclusions drawn were without any basis. Hence, we are not inclined to interfere in exercise of jurisdiction under Article 136 of the Constitution. The special leave petitions are accordingly dismissed,' the order said. Mr. Maran and KAL Airways were former promoters of SpiceJet. The High Court had, in its May 23 order, criticised the former promoter of taking a 'calculated gamble' by delaying the filing and re-filing of their appeals. On May 17 last year, the Delhi High Court had quashed a Single Judge order of July 31, 2023 upholding an arbitral award asking SpiceJet and its promoter Ajay Singh to refund ₹579 crore plus interest to Mr. Maran. The dispute between SpiceJet and Mr. Maran dates back to January 2015 when KAL Airways offered a 58.46% stake in SpiceJet to Mr. Singh, the principal shareholder, chairman, and managing director of the airline, at a meagre price of ₹2 per share due to the airline's financial troubles.
