Latest news with #Kalanithi-run
News18
3 hours ago
- Business
- News18
Sun TV Network Defends Promoter Kalanithi, Says All Legal Obligations Met
Agency: PTI Last Updated: Sun TV Network in a regulatory filing says the agreements between the two brothers had been "duly vetted" by "intermediaries" concerned before the company's public issue. A day after reports emerged of former Union minister Dayanidhi Maran accusing his brother of 'fraudulent practices" and 'misgovernance", the elder sibling Kalanithi-run Sun TV on Friday said the division between the promoter family done 22 years back was in compliance with all legal obligations. Defending its promoter Kalanithi, Sun TV Network in a regulatory filing said the agreements between the two brothers had been 'duly vetted" by 'intermediaries" concerned before the company's public issue. According to reports, Dayanidhi has sent a legal notice to his brother and several others, accusing them of 'fraudulent practices" and 'misgovernance" in taking control of Sun TV after their father Murasoli Maran's death in 2003. Dayanidhi, who is also a Lok Sabha member from the Dravida Munnetra Kazhagam (DMK), has sought to restore the company's shareholding structure to its pre-September 2003 status. The board of Sun TV Network is led by Kalanithi as Executive Director and Chairperson. His daughter Kavya Kalanithi Maran is also on the south-based broadcaster board. Kalanithi, as a promoter, owns 75 per cent shareholding in Sun TV Network. On Friday, Sun TV Network, in its regulatory filing said, 'The alleged matter dates back to 22 years when the company was a closely held private limited company." Defending the promoter, it further stated, '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 said. Moreover, Sun TV Network also said the media reports claiming a rift between the promoter Maran brothers 'does not have any bearing on the business of the company or its day-to-day functioning". Sun TV Network also clarified that it is a 'family matter of the promoter" and is 'purely personal in nature". Besides Kalanithi, financial institutions, including mutual funds and insurance companies, own 10.46 per cent of the shareholding of Sun TV and 6.87 per cent by the foreign portfolio investors. Chennai-based Sun TV Network is among India's leading media conglomerates, having 37 television channels in seven languages, with a reach of more than 140 million households in India. Besides, it also owns Sun Direct, a DTH (direct-to-home) platform and operates 69 FM radio stations under the brand names — Suryan FM, RED FM and Magic FM. It also operates three daily newspapers and six magazines. In addition, Sun TV Network owns the Sunrisers Hyderabad franchise of the Indian Premier League and Sunrisers Eastern Cape of Cricket South Africa's T20 League. For the 2024-25 financial year, the network's total consolidated income was Rs 4,712.60 crore, down 1.55 per cent. Its profit after tax was down 11.53 per cent to Rs 1,703.64 crore, against Rs 1,925.80 crore a year earlier. First Published: June 20, 2025, 14:30 IST
The Print
4 hours ago
- Business
- The Print
Sun TV Network defends promoter Kalanithi, says all legal obligations met
According to reports, Dayanidhi has sent a legal notice to his brother and several others, accusing them of 'fraudulent practices' and 'misgovernance' in taking control of Sun TV after their father Murasoli Maran's death in 2003. Defending its promoter Kalanithi, Sun TV Network in a regulatory filing said the agreements between the two brothers had been 'duly vetted' by 'intermediaries' concerned before the company's public issue. New Delhi, Jun 20 (PTI) A day after reports emerged of former Union minister Dayanidhi Maran accusing his brother of 'fraudulent practices' and 'misgovernance', the elder sibling Kalanithi-run Sun TV on Friday said the division between the promoter family done 22 years back was in compliance with all legal obligations. Dayanidhi, who is also a Lok Sabha member from the Dravida Munnetra Kazhagam (DMK), has sought to restore the company's shareholding structure to its pre-September 2003 status. The board of Sun TV Network is led by Kalanithi as Executive Director and Chairperson. His daughter Kavya Kalanithi Maran is also on the south-based broadcaster board. Kalanithi, as a promoter, owns 75 per cent shareholding in Sun TV Network. On Friday, Sun TV Network, in its regulatory filing said, 'The alleged matter dates back to 22 years when the company was a closely held private limited company.' Defending the promoter, it further stated, '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 said. Moreover, Sun TV Network also said the media reports claiming a rift between the promoter Maran brothers 'does not have any bearing on the business of the company or its day-to-day functioning'. Sun TV Network also clarified that it is a 'family matter of the promoter' and is 'purely personal in nature'. Besides Kalanithi, financial institutions, including mutual funds and insurance companies, own 10.46 per cent of the shareholding of Sun TV and 6.87 per cent by the foreign portfolio investors. Chennai-based Sun TV Network is among India's leading media conglomerates, having 37 television channels in seven languages, with a reach of more than 140 million households in India. Besides, it also owns Sun Direct, a DTH (direct-to-home) platform and operates 69 FM radio stations under the brand names — Suryan FM, RED FM and Magic FM. It also operates three daily newspapers and six magazines. In addition, Sun TV Network owns the Sunrisers Hyderabad franchise of the Indian Premier League and Sunrisers Eastern Cape of Cricket South Africa's T20 League. For the 2024-25 financial year, the network's total consolidated income was Rs 4,712.60 crore, down 1.55 per cent. Its profit after tax was down 11.53 per cent to Rs 1,703.64 crore, against Rs 1,925.80 crore a year earlier. PTI KRH TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Economic Times
7 hours ago
- Business
- Economic Times
Sun TV shares tumble over 5% in intra-day trade amid concerns over rift between Maran brothers
Shares of Sun TV Network tumbled over 5 per cent in intra-day trade on Friday before recovering most of the lost ground to end 1 per cent lower amid concerns over a rift between brothers Dayanidhi and Kalanithi Maran. ADVERTISEMENT According to reports, Dayanidhi has sent a legal notice to his brother and several others, accusing them of "fraudulent practices" and "misgovernance" in taking control of Sun TV after their father Murasoli Maran's death in 2003. The stock of Sun TV dropped 5.20 per cent to Rs 581.55 during the day on the BSE. Later, it ended at Rs 606.80, down 1.09 per cent. On the NSE, shares of the firm tanked 5.25 per cent to Rs 580 during the day. The stock later ended at Rs 605.75 apiece, a decline of 1.04 per cent. A day after reports emerged of former Union minister Dayanidhi Maran accusing his brother of "fraudulent practices" and "misgovernance", the elder sibling Kalanithi-run Sun TV on Friday said the division between the promoter family done 22 years back was in compliance with all legal obligations. Defending its promoter Kalanithi, Sun TV Network in a regulatory filing said the agreements between the two brothers had been "duly vetted" by "intermediaries" concerned before the company's public issue. ADVERTISEMENT The board of Sun TV Network is led by Kalanithi as Executive Director and Chairperson. Kalanithi, as a promoter, owns 75 per cent shareholding in Sun TV Network. ADVERTISEMENT Sun TV Network said, "The alleged matter dates back to 22 years, when the company was a closely held private limited company". Defending the promoter, it further stated, "Statements allegedly made in the articles are incorrect, misleading, speculating, defamatory and not supported by facts or law". ADVERTISEMENT "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 said. Moreover, Sun TV Network also said the media reports claiming a rift between the promoter Maran brothers "does not have any bearing on the business of the company or its day-to-day functioning". ADVERTISEMENT Sun TV Network also clarified that it is a "family matter of the promoter" and is "purely personal in nature". (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
8 hours ago
- Business
- Time of India
Sun TV shares tumble over 5% in intra-day trade amid concerns over rift between Maran brothers
Shares of Sun TV Network tumbled over 5 per cent in intra-day trade on Friday before recovering most of the lost ground to end 1 per cent lower amid concerns over a rift between brothers Dayanidhi and Kalanithi Maran . According to reports, Dayanidhi has sent a legal notice to his brother and several others, accusing them of "fraudulent practices" and "misgovernance" in taking control of Sun TV after their father Murasoli Maran's death in 2003. The stock of Sun TV dropped 5.20 per cent to Rs 581.55 during the day on the BSE. Later, it ended at Rs 606.80, down 1.09 per cent. On the NSE, shares of the firm tanked 5.25 per cent to Rs 580 during the day. The stock later ended at Rs 605.75 apiece, a decline of 1.04 per cent. A day after reports emerged of former Union minister Dayanidhi Maran accusing his brother of "fraudulent practices" and "misgovernance", the elder sibling Kalanithi-run Sun TV on Friday said the division between the promoter family done 22 years back was in compliance with all legal obligations. Live Events Defending its promoter Kalanithi, Sun TV Network in a regulatory filing said the agreements between the two brothers had been "duly vetted" by "intermediaries" concerned before the company's public issue. The board of Sun TV Network is led by Kalanithi as Executive Director and Chairperson. Kalanithi, as a promoter, owns 75 per cent shareholding in Sun TV Network. Sun TV Network said, "The alleged matter dates back to 22 years, when the company was a closely held private limited company". Defending the promoter, it further stated, "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 said. Moreover, Sun TV Network also said the media reports claiming a rift between the promoter Maran brothers "does not have any bearing on the business of the company or its day-to-day functioning". Sun TV Network also clarified that it is a "family matter of the promoter" and is "purely personal in nature".
Time of India
11 hours ago
- Business
- Time of India
Sun TV Network defends promoter Kalanithi, says all legal obligations met
Sun TV Network refuted allegations of "fraudulent practices" and "misgovernance" made by Dayanidhi Maran against his brother Kalanithi, emphasizing that the family division 22 years ago complied with all legal requirements. NEW DELHI: A day after reports emerged of former Union minister Dayanidhi Maran accusing his brother of "fraudulent practices" and "misgovernance", the elder sibling Kalanithi-run Sun TV on Friday said the division between the promoter family done 22 years back was in compliance with all legal obligations. Defending its promoter Kalanithi, Sun TV Network in a regulatory filing said the agreements between the two brothers had been "duly vetted" by "intermediaries" concerned before the company's public issue. According to reports, Dayanidhi has sent a legal notice to his brother and several others, accusing them of "fraudulent practices" and "misgovernance" in taking control of Sun TV after their father Murasoli Maran's death in 2003. Dayanidhi, who is also a Lok Sabha member from the Dravida Munnetra Kazhagam (DMK), has sought to restore the company's shareholding structure to its pre-September 2003 status. The board of Sun TV Network is led by Kalanithi as Executive Director and Chairperson. His daughter Kavya Kalanithi Maran is also on the south-based broadcaster board. Kalanithi, as a promoter, owns 75 per cent shareholding in Sun TV Network. On Friday, Sun TV Network, in its regulatory filing said, "The alleged matter dates back to 22 years when the company was a closely held private limited company." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Memperdagangkan CFD Emas dengan salah satu spread terendah? IC Markets Mendaftar Undo Defending the promoter, it further stated, "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 said. Moreover, Sun TV Network also said the media reports claiming a rift between the promoter Maran brothers "does not have any bearing on the business of the company or its day-to-day functioning". Sun TV Network also clarified that it is a "family matter of the promoter" and is "purely personal in nature". Besides Kalanithi, financial institutions, including mutual funds and insurance companies, own 10.46 per cent of the shareholding of Sun TV and 6.87 per cent by the foreign portfolio investors. Chennai-based Sun TV Network is among India's leading media conglomerates, having 37 television channels in seven languages, with a reach of more than 140 million households in India. Besides, it also owns Sun Direct, a DTH (direct-to-home) platform and operates 69 FM radio stations under the brand names -- Suryan FM, RED FM and Magic FM. It also operates three daily newspapers and six magazines. In addition, Sun TV Network owns the Sunrisers Hyderabad franchise of the Indian Premier League and Sunrisers Eastern Cape of Cricket South Africa's T20 League. For the 2024-25 financial year, the network's total consolidated income was Rs 4,712.60 crore, down 1.55 per cent. Its profit after tax was down 11.53 per cent to Rs 1,703.64 crore, against Rs 1,925.80 crore a year earlier.
