Maran vs Maran: Dayanidhi asks for Sun TV ownership

A family dispute has erupted at India's largest listed media entity Sun TV Networks Ltd, with former telecom minister Dayanidhi Maran crossing swords with billionaire brother Kalanithi Maran.

- Varun Sood & Satish John

In a legal notice, Dayanidhi, a member of Parliament from the Dravida Munnetra Kazhagam (DMK), accused his brother and several others of "fraudulent practices" and "misgovernance" in taking control of Sun TV after their father Murasoli Maran's death in 2003. Dayanidhi also sought to restore Sun TV's 2003 shareholding structure.

This implies that Dayanidhi and his sister, Anbukarasi Maran, along with current chief minister of Tamil Nadu, M.K. Stalin, and his two brothers and sister, would be the owners of Sun TV, as Kalanithi did not own any shares in the company 22 years ago.

Dayanidhi warned that he would seek a probe by the Serious Fraud Investigation Office (SFIO) of the ministry of corporate affairs if his brother refuses to comply.

"All of you have fraudulently brought down the shareholding of my client's parents from 50% to 1 single share whereas No.1 (Kalanithi) of you being an ex-employee who did not even own one share is now holding more than 75% shareholding of the company, without even employing any of your self earned money," said a notice, dated 10 June, sent by K.

Suresh, a lawyer representing Dayanidhi Maran, to eight executives. Mint has seen a copy of the notice.