Latest news with #SonaGroup
India.com
11 hours ago
- Automotive
- India.com
Meet Rani Kapur, Sunjay Kapur's mother and Karisma Kapoor's ex-mother-in-law, is now in news for....
Not many outside the business circuit knew of Rani Kapur until recently. The widow of late industrialist Surinder Kapur, Rani, was once the Chairperson of Sona Comstar, and is also the largest shareholder in Sona BLW. Her husband founded the Sona Group, a key name in the Indian auto components industry, and played a role in the early localisation of Maruti Suzuki. After Surinder Kapur passed away in 2015, their son Sunjay Kapur took over leadership of Sona BLW Precision Forgings, while Rani remained a figure of authority in the background. But following Sunjay's sudden death in June 2025, the matriarch has now stepped into the public eye, and not without reason. Why is Rani Kapur suddenly in the news? On July 24, Rani Kapur sent a letter to the Sona Comstar board, a company once led by her son, just ahead of its Annual General Meeting (AGM). In it, she urged the board to postpone the meeting, citing concerns over Sunjay's death and how key company decisions were being handled. But that was just the start. What did she say about Sunjay's death? In her letter, Rani described Sunjay's passing as 'highly suspicious and unexplained.' She said she had been denied access to critical documentation, and despite asking for clarity, received no real answers. She also claimed she was pressured into signing documents behind closed doors, papers that, according to her, are now being used to erase or twist the family's legacy. In a statement to ANI, she said, 'I still don't know what happened to my son. I am old now and need closure before I go. I may be old and frail now, but my memory of being with my husband when Sona was set up is strong… I am here to remind the world that our family legacy must not be lost.' Who controls Sona Comstar now? Shortly after Sunjay's death, his third wife, Priya Sachdev Kapur, was appointed Non-Executive Director of the company. Mark Jeffery was made Chairman. Though some had expected Sunjay's sisters to step in, this quick transition raised questions. Rani's letter appears to challenge not just the appointments, but the pace and nature of decisions made soon after her son's passing. How did the company respond? Sona Comstar issued a formal denial, calling Rani Kapur's statements 'baseless' and 'legally untenable.' They clarified that she has had no role in company matters since 2019, and that she is not a shareholder, director, or officer. 'Any insinuation that she was coerced into signing documents or that her consent is required for Company affairs is completely baseless,' the statement read. As the dust of grief settles, the battle over one of India's biggest automotive legacies seems to be just beginning, and at the centre of it stands a woman who once helped build it all.
Time of India
2 days ago
- Business
- Time of India
Reports: Karisma Kapoor Seeks Stake In Sunjay Kapur's ₹30,000 Crore Empire
A month after the sudden death of industrialist Sunjay Kapur (chairman of Sona Comstar) on June 12, 2025, his vast estate estimated at ₹30,000 crore is now engulfed in a legal and familial storm. According to reports, his ex-wife Karisma Kapoor has approached the company seeking a share in the inheritance, despite having received ₹70 crore alimony during their divorce in 2016. At the same time, Sunjay's mother Rani Kapur has claimed she is the rightful heir and majority stakeholder in the Sona Group, accusing unnamed parties of 'coercion and estate manipulation'.Karisma has yet to confirm any demand publicly. The drama raises questions about inheritance rights, blended families, and Bollywood‑industrial ties. Read More
NDTV
2 days ago
- Business
- NDTV
Inheritance Wars: Ambani, Modi, Now Kapur. India's Mega Family Feuds
Rani Kapur, the mother of businessman Sunjay Kapur, made dramatic allegations Friday - of being locked in a room and forced to sign documents by "certain people" (read, her daughter-in-law, Priya Sachdev Kapur) trying to "usurp the family legacy" and gain control of the Sona Group. The Sona Group, of which Sunjay Kapur was Chairman till his death in June, represents a business empire with a presence in the agriculture, textiles, construction, IT, education, and biotech spaces, and which has a market capitalisation of nearly Rs 30,000 crore. In her letter Ms Kapur demanded an AGM be postponed and claimed she had been coerced into signing documents. She also said she, as the majority shareholder, had not been consulted in the appointment of her daughter-in-law as a non-executive director of the board. Priya Sachdev Kapur has yet to respond, but the company has said Ms Kapur has not been a shareholder since 2019. Whatever the truth may be, and it is likely that truth will be buried under a mountain of allegations, counter-allegations, the Kapur family drama is far from the first of its kind. Over the past several years many prominent business clans have fought amongst themselves for control of the millions in the coffers, particularly after the death of the family head. Last year, for example, the family of Modi Enterprises Chairman Krishan Kumar Modi, who died in 2019, went to court over an inheritance in excess of Rs 11,000 crore. Mr Modi's will stipulated that his wealth be divided equally between his wife, Bina; two sons, Samir and Lalit; and daughter, Charu. However, in February 2024 Samir Modi filed a lawsuit claiming Bina Modi had violated the terms of his father's trust and mishandled company affairs. He sought the dissolution of the trust. Samir and Charu Modi had initially supported Bina Modi and the family trust, but Lalit Modi, the founder of the lucrative Indian Premier League cricket tournament, had demanded otherwise. Eventually it became Samir and Lalit vs Bina, but shareholders of Godfrey Philips, the group's flagship brand, then stepped in, backing the latter and removing the former from the board. But that has not settled the inheritance row. Neither Samir nor Lalit Modi have chosen to relinquish their shares in the company to their mother, which would signal their surrender. And so, the Modi family feud rumbles on, albeit beneath the surface for now. Going back a year further, there is the Oberoi story. After family patriarch Prithvi Raj Singh Oberoi - the famous hotelier whose EIH Ltd is valued at around Rs 9,000 crore and who built the Oberoi and Trident hotel chains, died in November 2023 - there was a scrabble for power and money. The central characters are Anastasia Oberoi, a daughter from his second marriage, her stepsiblings Vikramjit and Natasha, and a cousin, Arjun. And the plot twist here are two wills - one made in 1992 and another in 2021, and a codicil (or amendment) made in 2022. The stepsiblings and cousin back the 1992 will and the daughter backs the 2022 codicil, which grants her mother and her certain properties and financial assets. The late Prithvi Raj Singh Oberoi (File). She has accused the former three of trying to obstruct this division. In November last year, after she approached the Delhi High Court, there seemed to be a thaw, and she attended an AGM in which the warring family members made certain assurances. The Oberoi and Modis are just two examples of family squabbles over mega inheritances. Then there was with the Ambani clan after patriarch Dhirubhai Ambani died intestate in 2002. His sons, Mukesh and Anil, fought for control till mother Kokilaben sat them down and brokered peace, dividing the massive Reliance empire between them. The brothers, nevertheless, continued to squabble publicly for years, often even competing for assets and contracts. In 2018 there seemed to be some reconciliation after Mukesh bailed Anil out of trouble by paying over Rs 400 crore to rescue his struggling telecom-to-infrastructure company. But the younger Ambani's fortunes haven't really improved since then, with the Enforcement Directorate this week raiding locations linked to his business over alleged loan scams. NDTV is now available on WhatsApp channels. Click on the link to get all the latest updates from NDTV on your chat.
Mint
2 days ago
- Business
- Mint
Why are Sona BLW shares rising despite weak trends in Indian stock market today?
Sona BLW share price rose over 2% on Monday, defying broader market weakness. Sona BLW shares gained as much as 2.14% to ₹ 479.50 apiece on the BSE after shareholders approved the appointment of Priya Sachdev Kapur as a Non-Executive Director at the company's AGM on July 25. The development comes amid a family dispute following the sudden demise of company Chairman and Non-Executive Director Sunjay Kapur on June 19 due to cardiac arrest. On June 23, the board appointed Jeffrey Mark Overly as the new Chairperson and inducted Priya Sachdev Kapur, Sunjay's wife, as an Additional Director of Sona BLW Precision Forgings. However, the move has drawn objections from Rani Kapur, Sunjay's mother and former chairperson of the Sona Group. In a letter dated July 24, she alleged that the AGM was held while the family was mourning and claimed she was coerced into signing undisclosed documents. She also asserted that, as the sole beneficiary of late Surinder Kapur's 2015 Will, she is the majority shareholder of the Sona Group. Sona Comstar has denied these allegations and clarified that, as per company records, Rani Kapur has not been a shareholder since 2019. The company said the AGM was held in full compliance with regulatory norms, and Priya's appointment received 99.44% shareholder approval. Rani Kapur has further raised concerns over the 'suspicious' circumstances surrounding her son's death in the UK, stating she has not consented to any board nominations. Sona BLW share price has gained 2% in three months and has fallen 5% in the past six months. The stock has dropped 20% on a year-to-date (YTD) basis, while it has declined 31% in one year. Sona BLW shares have fallen 16% in two years. At 12:25 PM, Sona BLW share price was trading 0.49% higher at ₹ 471.75 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
India.com
2 days ago
- Automotive
- India.com
What is Sunjay Kapur's company Sona Comstar known for? How much inheritance will ex-wife Karisma Kapoor receive?
Sona BLW Precision Forgings Ltd (Sona Comstar) on Friday said that the board proceeded with the Annual General Meeting (AGM) despite a postponement request from Rani Kapur, late Chairman Sunjay Kapur's mother, based on legal counsel. In a stock exchange filing, the Haryana-based company said Rani Kapur is not a shareholder and no documents were signed or obtained from her by the firm. Now, in another update, Shareholders of auto components firm Sona BLW Precision Forgings Ltd have approved the appointment of Priya Sachdev Kapur as a non-executive director with the requisite majority. The company confirmed the decision in a filing to the BSE that was made in an Annual General Meeting (AGM), which took place on July 25. Priya married Sunjay Kapoor, Karisma Kapoor's ex-husband, in 2017. According to Bloomberg, Sona Comstar had a market cap of Rs 2.9 lakh crore (Rs 290,000 crore). If you're wondering, what is Sona Comstar? Sona Comstar is a premier automotive technology company that produces electric vehicle components and drivetrain systems. Rani Kapur had written to the Board of Directors and Shareholders of Sona Comstar to refrain from the appointment of any Director(s) in the Company or any other Sona Group Company and further unconditionally defer the AGM, scheduled for her letter, Rani Kapur alleged she was coerced to sign some documents which are being misused to wrest control of the company and usurp the family legacy after her son's death. She stated that as per the 'Will' left behind by her late husband, Dr Surinder Kapur, the founder of Sona Comstar and the Sona Group, she is the majority shareholder in the company and thereby the only authority to represent the interests of the family in the company/Sona Group. 'It is unfortunate that while the family and I are still in mourning, some people have chosen this as an opportune time to wrest control and usurp the family legacy,' the letter said. The firm works in the components for electric and hybrid vehicles sector as a supplier of spare parts for global major automotive conglomerates like Tesla, Jaguar, and Land Rover. Sanjay Kapoor joined the board of Sona Comstar as a Director in 2006 and became Managing Director in 2015. During his time as Managing Director, Sanjay not only guided the company out of debt but established it in many territories including the USA, China, Serbia, and Mexico. He successfully listed the company stock on the stock exchange in 2019. According to Forbes, Sanjay Kapoor had a net worth of Rs 10,300 crore. He had luxury residences in Pali Hill (Mumbai), Emirates Hills (Dubai), and Mayfair (London), and owned luxury cars valued at Rs 25 crore. According to the official website of Sona Comstar, in 2015, Mr. Kapur assumed the role of Managing Director following the passing of his father and the Company's founder, Dr. Surinder Kapur. At a time when the Company was navigating significant financial challenges, he led its turnaround by stabilizing finances, expanding export business, and transforming its product portfolio from conventional differential gears to integrated electric vehicle driveline solutions. 'Under his chairmanship, Sona Comstar expanded its global footprint across India, the USA, Mexico, China, and Serbia, successfully listed on BSE Ltd. and the National Stock Exchange of India Ltd., and entered future mobility domains such as sensors and software through the acquisition of a majority stake in Novelic, reads the website. There is often a question as to whether actress Karisma Kapoor will get a share from any inheritance? The answer is no. Karisma was given a settlement of Rs 70 crore at the time of her divorce. There were Rs 14 crore of bonds purchased in each of their children, Samaira and Kiaan's names. Additionally, she was given a monthly allowance of Rs 10 lakh. With those details in mind, there is very little chance she will benefit further from the property.
