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Hindustan Times
an hour ago
- Business
- Hindustan Times
Maran vs Maran: Sun TV family feud explained; what Dayanidhi said in legal notice to Kalanithi
Former Union minister and Dravida Munnetra Kazhagam (DMK) leader Dayanidhi Maran has accused his brother Kalanithi Maran of "financial crimes" since 2003 over Sun TV Private Limited, asking him to restore the entire shareholding position of the group and its related companies to their original state. The legal notice Dayanidhi sent to his brother alleged that Kalanithi Maran allotted 1.2 million equity shares of Sun TV Private Limited at ₹10 each in his name, with the claim that this was done without any proper valuation and fair consideration. Reportedly, Kalanithi did not own a single share in the company till September 15, 2003. According to the former Union minister, the "illegal" activities began in September 2003, days after their late father and former Union minister Murasoli Maran was brought back to Chennai from the US, where he was undergoing treatment, HT reported. Following Murasoli's death in November 2003, the shares were transferred to their mother, Mallika Maran, without any legal documentation. Dayanidhi has, however, alleged that Kalanithi transferred the shares to himself at ₹10 each just three days after Murasoli's death, which must be even before the issuance of the death certificate. The notice reportedly called the transfer void and fraudulent. Kalanithi allegedly derived dividends of ₹5,926 crore until 2023 and ₹455 crore in the 2024 fiscal. Dayanidhi said his brother's offences are 'continuous in nature and continue as on date'. The Sun TV Network's consolidated income for the 2024-25 financial year was ₹4,712.60 crore, down 1.55 per cent. Kalanithi Maran "illicitly acquired" the shares of their aunt and Karunanidhi's widow, MK Dayalu, using funds drawn from Sun TV Private Limited, the notice alleged. The notice read, "You and your accomplices have deliberately abused your fiduciary and professional obligations to commit a series of calculated and coordinated financial crimes." Dayanidhi alleged that such acts equate to white-collar criminality of the highest order, causing irreparable loss to the legitimate stakeholders of the companies in question. Dayanidhi's notice further alleged that the shares were allotted to Kalanithi without consent from stakeholders, i.e., the families of Murasoli Maran and DMK founder M Karunanidhi. The DMK leader also sent legal notices to his brother's wife, Kaveri Kalanithi, Sun TV's company secretary Ravi Ramamoorthy, and auditor Sivasubramanian. Kaveri is reportedly accused of drawing a salary of ₹87.5 crore annually. Dayanidhi has also threatened to approach the central government, the Board of Control for Cricket in India, and the Directorate General of Civil Aviation for action against the licenses of the Sun Group, Indian Premier League team Sunrisers Hyderabad, and the operation of SpiceJet Ltd. Sun TV was started in 1993 from the DMK's headquarters in Chennai, Tamil Nadu. Today, it is a major network, owning 37 television channels in seven Indian languages, a Direct-To-Home broadcast service, 69 FM radio stations, three daily newspapers, six magazines, and two sports franchises. According to the notice, the company was allegedly in a healthy financial position. Citing the audited balance sheet, it said the company's reserves and surplus were ₹253 crore as of March 31, 2003. The notice added that there was no need for any external funding. Dayanidhi Maran had also sent a notice to Kalanithi in October 2024, wherein he alleged that his brother issued a "vague reply", and paid ₹500 crore to their sister Anbukarasi Maran through their mother's bank account. "This settlement and initial payment demonstrated your attempt to evade repercussions for the fraudulent activities you committed and to conceal your criminal actions. These payments have been made by you again by using the funds of M/s SUN TV Network Limited by way of dividends," the notice added. Sun TV on Friday defended Kalanithi Maran against the backdrop of the allegations levelled by Dayanidhi Maran, saying that the division between the promoter family was done 22 years ago in compliance with all legal obligations. In a regulatory filing, the network said the agreements between the two brothers had been "duly vetted" by "intermediaries" concerned before the company's public issue. The Sun TV network's regulatory filing said, "The alleged matter dates back to 22 years when the company was a closely held private limited company. Statements allegedly made in the articles are incorrect, misleading, speculating, defamatory and not supported by facts or law." "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," it added. The Sun TV Network also clarified that reports of rift between Maran brothers "does not have any bearing on the business of the company or its day-to-day functioning".
Mint
2 hours ago
- Sport
- Mint
IND vs ENG 1st Test Live Updates, Day 1: Sai Sudharsan makes India debut, England opt to bowl at Headingly
England captain Ben Stokes won the toss and opted to bowl first in the first Test against India at Headingly in Leeds on Friday. India hand debut to Sai Sudharsan while Karun Nair makes a comeback to the Test side after eight long years as the visitors go with three seamers in Jasprit Bumrah, Mohammed Siraj, Prasidh Krishna. England had already announced their playing XI a day before. After the retirements of Rohit Sharma and Virat Kohli, there was always a question mark on who will occupy the No.3 spot in Tests, considering Cheteshwar Pujara is not being considered anymore. The suspense ended when the Saurashtra batter handed over the Test 317th cap to Tamil Nadu's Sudharsan, who is coming after a prolific Indian Premier League (IPL) and domestic season. Sudharsan's Test debut meant Abhimanyu Easwaran's wait for an India cap continues. All-rounder Shardul Thakur will add the fourth seamer's option to the Indian team probably at no.8. India captain Shubman Gill confirmed at the toss that Sudharsan will bat at the no.3 slot. Earlier, vice-captain Rishabh Pant had confirmed that Gill will bat at no. 4. The Test match will be played in three sessions with the first session running from 3:30 PM to 5:30 PM IST. It will be followed by a lunch break until 6:10 PM IST. The second starts at 6:10 PM IST and will go on till 8:10 PM IST, followed by a 20-minute Tea break. The final session of the day starts from 8:30 PM and will continue till 10:30 PM IST. England: Zak Crawley, Ben Duckett, Ollie Pope, Joe Root, Harry Brook, Ben Stokes (c), Jamie Smith (wk), Chris Woakes, Brydon Carse, Josh Tongue, Shoaib Bashir India: Yashasvi Jaiswal, KL Rahul, Sai Sudharsan, Shubman Gill(c), Rishabh Pant(w), Karun Nair, Ravindra Jadeja, Shardul Thakur, Jasprit Bumrah, Mohammed Siraj, Prasidh Krishna
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First Post
2 hours ago
- Sport
- First Post
Karun Nair returns after eight years, Sai Sudharsan handed Test debut as England opt to field against India in Headingley
Karun Nair makes his first appearance for the Indian team since 2017 while B Sai Sudharsan makes his first appearance in whites after playing both white ball formats as England opt to field against India in the opening match of the five-Test series in Headingley, Leeds. read more Karun Nair last played a match for India in 2017, over seven years ago. Image: Reuters B Sai Sudharsan was handed his maiden cap while Karun Nair returned to the team after spending eight years in the wilderness as England captain Ben Stokes opted to field in the first Test against India in Headingley on Friday. LIVE | India vs England, 1st Test in Headingley, Day 1 The ongoing Test is Shubman Gill's first since he was named Rohit Sharma's successor as Test captain, as well as the first since Rohit and Virat Kohli announced their retirement from the five-day format last month. STORY CONTINUES BELOW THIS AD Sai Sudharsan received his maiden Test cap from Cheteshwar Pujara ahead of toss, and it was perhaps poetic since the Tamil Nadu batter will be batting at a position that the latter, who currently is on commentary duty with BBC's Test Match Special. Nair, meanwhile, received a recall into the Indian team after eight years on the back of staggering numbers in the domestic circuit as well as an impressive run in the Indian Premier League for Delhi Capitals. Additionally, Shardul Thakur was included as an all-rounder along with left-arm spinner Ravindra Jadeja, having made a strong case for selection with an unbeaten 122 in the intra-squad match in Beckenham recently. India vs England, 1st Test at Headingley, Playing XIs: India: Yashasvi Jaiswal, KL Rahul, B Sai Sudharsan, Shubman Gill (c), Rishabh Pant (wk), Karun Nair, Ravindra Jadeja, Shardul Thakur, Prasidh Krishna, Jasprit Bumrah, Mohammed Siraj. England: Zak Crawley, Ben Duckett, Ollie Pope, Joe Root, Harry Brook, Ben Stokes (c), Jamie Smith (wk), Chris Woakes, Brydon Carse, Josh Tongue, Shoaib Bashir
India Today
3 hours ago
- Entertainment
- India Today
Drake loses $8 million in sports gambling: Hope I can post a big win
Apart from music, rap superstar Drake is also known for his high-stakes sports gambling. From the NBA to cricket, the Canadian rapper is often seen at major global events, betting huge amounts on games. He recently opened up about the downside of such gambles, revealing that he lost eight million in a single an Instagram story, Drake shared a screenshot of his Stake account, writing: 'Gotta share the other side of gambling. Losses are fried right now.' The 38-year-old has reportedly placed nearly 125 million in bets. 'I hope I can post a big win for you all soon, 'cause I'm the only one that has never seen a max these guys max once a week (sic),' he added. Drake shared a screenshot of his financial losses. (Photo Credit: Instagram/champagnepapi) advertisementEarlier this year, Drake placed a $750,000 bet on Royal Challengers Bengaluru against the Punjab Kings in the Indian Premier League final. Following his social media post, fans joked that the rapper's infamous curse had turned on him. The 'Drake Curse' is a pop culture phenomenon based on the idea that any athlete or team he supports usually ends up Toronto-based rapper hasn't shied away from acknowledging that reputation. In a recent promo video for Stake, he even joked about being a flawed bettor: 'I will not deny that. That's not my gift. I'll let everybody roll with it. I'm sure if you're a Drake Curse believer, there will be plenty more content in the future to confirm your theories, because my slips do not cash out. But one day I'm gonna have a parlay that's insane,' he the work front, Drake recently featured on Canadian rapper Smiley's latest album 'Don't Box Me In'. It marked Drake's first feature since PARTYNEXTDOOR's '$ome $exy $ongs 4 U' back in February this Watch
India Today
4 hours ago
- Sport
- India Today
No Karun Nair: Ajinkya Rahane's big call in India playing XI for England Test
Ajinkya Rahane, the experienced middle-order batter who has been out of favour for quite some time, offered an interesting take on what India's playing XI should look like for the first Test against England at Headingley, starting Friday, June 20. Notably, Rahane left out in-form domestic star Karun Nair and instead picked Dhruv Jurel in his on his YouTube channel, Rahane shared his thoughts based on his international experience. Rishabh Pant, India's newly appointed vice-captain, had already confirmed during the pre-match press conference that skipper Shubman Gill would bat at number four, with Pant himself following at number five. That leaves a question mark over the number three and number six Karun Nair's strong domestic season and his recent double-hundred during the practice match, many expected him to feature in one of those middle-order positions. Nair has been through the grind since being dropped from the side in 2018, consistently performing in both first-class and List A cricket. He scored 863 runs in the recent Ranji Trophy season and followed it up with 779 runs in the Vijay Hazare BACKS SUDHARSAN TO BAT AT NO: 3Rahane believes that the young and swashbuckling talent, Sai Sudharsan, deserves a chance at the number three spot. He backed Sudharsan's inclusion based on his Indian Premier League season and his recent domestic performances as well."I think so. Yes, he has been in very good form in T20 cricket as well as red-ball cricket. Whatever domestic matches he has played, he's done really well for his side and his technique looks really composed and calm whenever he is batting at the crease, so I think he should be given a chance to bat at number eyes will be on the screen as the Shubman Gill era officially begins. Fans and experts alike will be eager to see how the playing XI shapes up - and whether Karun Nair manages to make the Rahane's Probable XI for the Headingley Test: Yashasvi Jaiswal, KL Rahul, Sai Sudharsan, Shubman Gill (c), Dhruv Jurel, Rishabh Pant (wk), Ravindra Jadeja, Shardul Thakur, Jasprit Bumrah, Mohammed Siraj, Arshdeep SinghMust Watch
