Sun TV shares tank 5% amid legal clash between Maran brothers
Shares of Sun TV Network tanked 5 per cent in early trade on Friday amid legal feud between the Maran brothers.
DMK MP Dayanidhi Maran served a legal notice on his brother and Sun Network Executive Chairman Kalanithi Maran alleging that the latter along with seven others was involved in unlawful share transfers concerning Sun TV Network Limited and affiliated companies.
Dayanidhi alleged that in 2003, when their father SN Maran was ill, Kalanithi Maran allotted 12 lakh equity shares of Sun TV to himself in 2003 at a face value of ₹10 each without proper valuation, fair consideration, or consent of other existing shareholders, which includes families of SN Maran and former TN CM M Karunanidhi.
Kalanithi also allotted bonus shares to himself without following procedures and presented false information in the Red Herring Prospectus that Sun TV filed when they went public, the notice claimed.
Kalanithi Maran holds 75 per cent stake in Sun TV, as of March 2025.
As at 9.43 am, the stock traded 3.35 per cent lower at ₹592.95, hitting a low of ₹581.55. The stock opened at ₹599.95 on the BSE against previous close of ₹613.50.
Published on June 20, 2025
