'You Took Advantage Of...': Dayanidhi Maran vs Brother Kalanithi For Sun TV
Chennai:
DMK MP Dayanidhi Maran and his brother, Kalanithi Maran, are set to face-off for control of the family-owned Sun TV Network - India's largest listed media organisation with a valuation in excess of Rs 24,400 crore as of June 2025, and a hugely influential digital and broadcast platform in Tamil Nadu.
Dayanidhi Maran has sent a legal notice accusing his brother of a "premeditated fraudulent scheme" to grab control of the company after the death of their father, Murasoli Maran, in 2003.
The notice also named Kalanithi Maran's wife, Kavery, and six others, and claims he committed a breach of trust, as well as financial mismanagement, in gaining control of the network.
Dayanidhi Maran said he would seek a probe by the Serious Fraud Investigation Office.
In an exchange filing Friday Sun TV said "all acts have been done in accordance with legal obligations" and noted the issue dates back 22 years to when it was "a closely-held private limited company".
Media reports claiming illegal acts are therefore "incorrect, misleading, (speculative), and not supported by facts or law", the network said.
The party, the Dravida Munnetra Kazhagam, which is in power in Tamil Nadu, is prepping for the 2026 election and is unlikely to intervene, sources told NDTV. This is a family matter, sources said.
The Sun TV network was earlier closely associated with the ruling DMK (File).
Kalanithi Maran has not responded as yet.
The notice sent Sun TV shares (SUNTV) sliding; at 12.30 pm Friday they were down 1.8 per cent.
The dispute is over alleged misappropriation of shares after Murasoli Maran died intestate.
Dayanidhi Maran has claimed his brother enacted a premeditated scheme and "took advantage of the family's situation, especially when my father's health was critically ill, and he could pass away at any moment, and the entire family was concerned about his deteriorating health... "
According to him, at the time of this "fraudulent scheme", i.e., in September 2023, his brother had no shares in Sun TV as their father 'had no intention to allot any to you during his lifetime'.
Kalanithi Maran, therefore, allegedly executed a "deceptive and devious plan... to take over the company for personal benefit" by illegally allotting 12 lakh equity shares, at a face value of Rs 10 each, to himself a week after his father's death.
This, Dayanidhi Maran has alleged, was done "without sufficient, proper valuation, and fair consideration, and without consent from all other existing shareholders".
DMK MP Dayanidhi Maran's brother, Kalanithi Maran (File).
"Till September 15, 2003, you did not hold even a single share of the company. Suddenly overnight, you had become a majority shareholder with controlling interest."
Shareholding should revert to 2003, which included allotments to their sister and Tamil Nadu Chief Minister MK Stalin, whose father, ex-Chief Minister Karunanidhi, was Murasoli Maran's uncle, he said.
"You allotted 60 per cent of shares without consultation or approval from existing majority/promoter original shareholders, at face value of Rs 10 each... Even in 2003, value was between Rs 2,500 and Rs 3,000... there cannot be allotment at a face value of Rs 10 each..."
The company, Dayanidhi Maran also said, was in a "healthy financial position" at the time, requiring no cash injection or external funding, "either by private loan or equity infusion".
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