Chennai: The legal notice sent by DMK MP Dayanidhi Maran to his brother and SUN TV promoter Kalanidhi Maran has been withdrawn, the television network said on Monday, through which the issues between one of Tamil Nadu’s most important political families have been resolved.
In a letter to the National Stock Exchange (NSE), Sun TV’s company secretary Ravi Ramamoorthy said he has been informed by its promoter Kalanidhi that all legal notices issued by Dayanidhi against him, his relatives and other individuals have been “unconditionally and irrevocably withdrawn” and the issues hereby “stand resolved.”
The network, one of the largest in India, reiterated that the issue of the legal notices and the withdrawal of such legal notices do not pertain to the business or management of Sun TV or its day to day functioning and that it is a family matter of the promoter which is purely personal.
Dayanidhi had in June sent a notice to his elder brother Kalanidhi alleging that the latter allotted 12 lakh equity shares of Sun TV Private Limited at a price of ₹10 each to his name “without sufficient, proper valuation and fair consideration, and without obtaining consent from all other existing shareholders – the families of Murasoli Maran and late DMK patriarch M Karunanidhi.
Following this on June 20, Sun TV had written to the NSE that news articles on legal notices issued by Dayanidhi did not have a bearing on the business of the company.
{{/usCountry}}Following this on June 20, Sun TV had written to the NSE that news articles on legal notices issued by Dayanidhi did not have a bearing on the business of the company.
{{/usCountry}}The withdrawal of the notice was expected after mediation talks was facilitated by DMK president and Tamil Nadu Chief Minister M K Stalin since the brothers’ sparring had become public at a time when the state goes to assembly elections next year. Stalin also roped in Dravidar Kazhagam chief K Veeramani to settle the dispute. Sun TV did not reveal how the issue was resolved.
Accusing his brother of indulging in money laundering, Dayanidhi had also threatened to approach the Ministry of Information and Broadcasting seeking immediate cancellation of all licenses held by Sun Group, and the Registrar of Newspapers for India with a specific request for the immediate cancellation of the registration and publishing licences of newspapers.
He also threatened to approach the Board of Control for Cricket in India (BCCI) to seek the cancellation of the franchise licence issued to Sunrisers Hyderabad, and to notify the Directorate General of Civil Aviation (DGCA) for the immediate cancellation of the operational licence granted to SpiceJet Ltd.