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Indian Express
3 hours ago
- Business
- Indian Express
Inside the Maran family feud: Will the fight over Sun TV empire singe DMK?
One of Tamil Nadu's most powerful political and business dynasties, the Maran family is now at the centre of a rare, public rupture that threatens not only its reputation but also the image of the DMK, the party it has long been tethered to. At the heart of the rift is a legal notice that DMK MP and former Union Minister Dayanidhi Maran has issued to his elder brother and media baron Kalanithi, accusing him of fraudulent share allotments and corporate misgovernance in their flagship company Sun TV Network Limited. Sun TV Friday responded to media reports stemming from the notice. In a filing to the stock exchanges under SEBI Regulation 30, the company stated, 'The alleged matter dates back to 22 years, when the company was a closely held private limited Company. The statements allegedly made in the articles are incorrect, misleading, speculative, defamatory and not supported by facts or law. We wish to inform you that all acts have been done in accordance with legal obligations and the same had been duly vetted by concerned intermediaries before the public issue of the Company.' The company said the dispute 'does not have any bearing on the business of the Company or its day-to-day functioning' and emphasised it was a personal matter between members of the promoter family. Still, the damage may already be done. A senior DMK functionary called the dispute 'deeply embarrassing not only for the Marans, but for the party as well'. According to top party sources, DMK president and Tamil Nadu Chief Minister M K Stalin attempted to mediate between the Maran brothers on at least two occasions in the past three months. 'Even their sister Anbukkarasi was ready for a compromise as Stalin suggested. Kalanithi was also open. But Dayanidhi refused to listen. He took the legal route, ignoring the larger political consequences. When brothers fight over thousands of crores, people will begin asking how they made this much money, eventually putting DMK at the receiving end,' said a DMK source. The roots of the family's influence lie in the life and career of Murasoli Maran (1934-2003), the trusted nephew of DMK patriarch M Karunanidhi. Maran was a key architect of the DMK's outreach to the national political stage, serving as its voice in New Delhi for decades. Fluent in both Tamil and English, he was widely respected as the party's strategist and troubleshooter in coalition-era politics. From his early days of helping Karunanidhi in film productions, writing, and as the editor of Murasoli, the party's Tamil daily, to his later role as Union Minister in multiple Central governments, Maran left an imprint that extended far beyond Tamil Nadu. He served as the Minister for Commerce and Industry from 1999 to 2003 in Atal Bihari Vajpayee's NDA government. He was also known for his accessibility, and for those who could not directly reach Karunanidhi, he was the gateway. Kalanithi, his elder son, began with a small video business called Poomalai, producing and selling private programs on VHS cassettes. In 1993, he launched Sun TV, which initially broadcast from Singapore. The timing was impeccable as, at the time, India was transitioning from the Doordarshan monopoly to the cable revolution. Sun TV quickly became synonymous with Tamil entertainment, and 'taking a Sun TV connection' became a household phrase. With the backing of the DMK and a knack for market instincts, Kalanithi built the Sun Group into one of India's largest regional media empires, spanning television, radio, print, sports, cinema, and aviation. His Sumangali Cable Vision (SCV) network also drew attention when the Karunanidhi regime introduced free colour televisions, a move seen by critics as beneficial to the company. Yet, Kalanithi's political neutrality served him well. 'He maintained a corporate image and stayed away from party politics, even though Sun News editorially leans toward Dravidian ideology,' said a media industry insider. That approach helped him avoid regulatory entanglements and expand operations across southern India. In contrast, Dayanidhi entered politics through his father's legacy. Educated at Loyola College, he was seen as a modern, business-savvy face in the DMK. As Telecom Minister (2004–2007), he pushed for lower call rates and foreign investments. But his tenure was later mired in allegations: first in the 2G spectrum case, then the Aircel-Maxis deal, and finally the telephone exchange scandal. Though acquitted in several instances, his political capital steadily declined. In 2007, the Marans' newspaper Dinakaran published a survey asking readers who should succeed Karunanidhi. Stalin topped the poll, Dayanidhi came second, and M K Alagiri, Stalin's elder brother, came third. Furious at the result, Alagiri's supporters attacked the Dinakaran office in Madurai. Three employees of the newspaper died in the violence, marking one of the lowest points in the DMK's history. Karunanidhi was in the Assembly when he was informed of the attack, with a state intelligence officer passing on the message in a half-page handwritten note in Tamil. The CM reportedly began correcting spelling mistakes in the note, with the reaction read by many as his cold detachment. With Kalanithi backing Dayanidhi, who was widely blamed for the poll, the incident created a long rift between the Maran brothers and DMK's first family. The legal notice by Dayanidhi alleges Kalanithi allotted himself 12 lakh equity shares in Sun TV in 2003 at a face value of Rs 10 each, without proper approval and at a time when their father was in a coma. The move, the DMK MP alleges, gave Kalanithi a 60% stake and reduced the holdings of the Maran and Karunanidhi families from 50% each to 20%. 'Karunanidhi would have settled this. Stalin isn't that type,' said a DMK minister. The notice also claims that the shares, worth over Rs 3,500 crore at fair market value, were acquired for just Rs 1.2 crore, and Kalanithi later misused company resources to enrich himself. It lists possible violations under corporate law, the Indian Penal Code, and the Prevention of Money Laundering Act. Sun TV pushed back firmly Friday, calling the accusations 'defamatory' and stating that 'all acts have been done in accordance with legal obligations … duly vetted before the public issue of the company'. DMK insiders see Dayanidhi's move as a political gamble with little upside. 'He is isolated now. Udhayanidhi Stalin (the CM's son) is his only link to the leadership now. And even that window may be closing soon,' said a party insider.
Mint
8 hours ago
- Business
- Mint
Sun TV reacts to ‘family dispute' reports: ‘Matter dates back to 22 years when…'
Sun TV Network Limited rejected reports about a dispute between former Union Minister Dayanidhi Maran and his older brother Kalanithi Maran, Chairman and Managing Director of Sun TV. The statement by the Company Secretary & Compliance Officer said the claims made in recent articles 'are incorrect, misleading, speculating, defamatory and not supported by facts or law.' The statement said the alleged matter dates back to '22 years when the Company was a closely held private limited Company.' 'We wish to inform that all acts have been done in accordance with legal obligations and the same had been duly vetted by concerned intermediaries before the public issue of the Company,' the statement added. It further stated, 'The matters alleged in the articles does not have any bearing on the business of the Company or its day-to-day funtioning and being the family matter of the Promoter are purely personal in nature.' In what was called a high-stakes family dispute, Dayanidhi Maran reportedly issued a legal notice to his elder brother, Kalanithi Maran, accusing him of violating regulations and unlawfully transferring lakhs of shares of the Chennai-based Sun TV Group to himself. The legal notice was addressed to Kalanithi Maran, Kaveri Kalanithi, Ravi Ramamoorthy, Natarajan Sivasubramanian (chartered accountant), Sridhar Swaminathan (financial consultant), Swaminathan, and Sharad Kumar. According to reports, Dayanidhi alleged that Kalanithi received ₹ 5,926 crore in dividends up to 2023 and an additional ₹ 455 crore in 2024. He reportedly alleged that 'the offences committed by you are continuous in nature and continue as on date.' Meanwhile, Sun TV Network Ltd, the company at the center of the dispute, reported a turnover of ₹ 4,544 crore and a net profit of ₹ 1,654.45 crore for the financial year 2024–25.
The Hindu
10 hours ago
- Business
- The Hindu
Sun TV share dispute: Company says all acts done as per legal obligations
Sun TV Network Limited, on Friday (June 20, 2025), responding to news reports on DMK MP and former Union Minister Dayanidhi Maran issuing a legal notice to his elder brother Kalanithi Maran who is the Chairman of Sun TV Network and to others, said the allegations are incorrect, misleading, speculating, defamatory and not supported by facts or law. 'This is in reference to the news articles appearing in various media in relation to certain matters between the Promoter of Sun TV Network Limited and his family member. The alleged matter dates back to 22 years when the Company was a closely held private limited Company,' Sun TV said in a stock exchange filing. 'We wish to inform that all acts have been done in accordance with legal obligations and the same had been duly vetted by concerned intermediaries before the public issue of the Company,' the statement said. The matters alleged in the articles does not have any bearing on the business of the company or its day-to-day functioning and being the family matter of the Promoter are purely personal in nature, it added. Stock market response Sun TV shares, which were down by 4% in the morning trade, pared some losses after the company's statement. It was trading down 2% at ₹601.6 a share on BSE. On NSE, the company's shares were down by 2% trading at nearly ₹600 a share.
