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‘Still don't know what happened to my son’: Sunjay Kapur's mother Rani amid Sona Comstar power tussle
Rani Kapur accused the firm exploiting the moment to “wrest control,” in a July 24 letter to the Sona Comstar board.
The sudden death of Sona BLW Precision Forgings Ltd (Sona Comstar) chairman Sunjay Kapur on June 12 in London has led to several top-level changes in the company and sparked a dispute with his mother, Rani Kapur, who alleges an attempt to “usurp the family legacy".
In a July 24 letter to the Sona Comstar board, Rani accused the firm of exploiting the moment to “wrest control. “Some people chose this as an opportune time to wrest control and usurp the family legacy”, while the family was still mourning Sunjay's sudden demise, she had said.
In recent days, the board of Sona Comstar unanimously appointed Jeffery Mark Overly as chairman on June 23 and appointed Sunjay's wife, Priya Sachdev Kapur, as a non-executive director.
Rani Kapur on Tuesday said, “I still don't know what happened to my son. I am old now and need closure before I go. I may be old and frail now, but my memory of being with my husband when Sona (Sona Comstar) was set up is strong,” reported news agency ANI.
“I remember the early days of Sona (Sona Comstar), built with care, sacrifice and love. I am here to remind the world that our family legacy must not be lost. It must be passed on as my husband always wanted it to be. Given my health and my age, I will not be making any further comments. My legal team will address everything necessary,” she told the news agency.
AGM held despite Rani Kapur’s request
Despite Rani Kapur's late request to defer it, Sona Comstar held its Annual General Meeting (AGM) on July 25 as scheduled. Rani Kapur had urged that the planned AGM be cancelled by letter.
However, the firm later clarified that Rani's email was received on the night of July 24, just hours before the AGM, and that she is not a shareholder.
“Given our respect for Mrs Kapur, the Company sought urgent legal advice from one of India's most reputed law firms... Based on the legal counsel and the fact that Mrs Kapur is not a shareholder of the Company, the Company concluded that it could not defer the AGM,” the company said in a statement filed with stock exchanges, as reported by ANI.
It further clarified: “For clarity, the Company confirms that no documents have been signed or obtained from Mrs Rani Kapur by the Company following the passing of Mr Sunjay Kapur.”
Priya Sachdev Kapur appointed to the board
At the AGM, shareholders approved the appointment of Priya Sachdev Kapur, wife of the late Sunjay Kapur, as a non-executive director.
Her nomination was made by M/s Aureus Investments Private Limited, which holds a 28.02 per cent stake in the company. The remaining 71.98 per cent is held by public shareholders, reported ANI.
The company said her appointment was duly vetted by the Nomination and Remuneration Committee and approved by the board.
It also stated that the firm has adhered to all legal and governance frameworks throughout the transition process. It reiterated that Rani Kapur has not been a shareholder since at least 2019.
“In May 2019, the Company received a declaration of significant beneficial ownership identifying Sunjay Kapur as the sole beneficial owner of RK Family Trust, a significant shareholder of AIPL,” the company said.
Sona Comstar concluded its statement by saying it remains committed to maintaining the highest corporate governance and transparency standards.
