Sona BLW Denies Rani Kapur's Coercion Claims As 'Baseless': 'Not A Family-Run Business'

Sona BLW Precision Forgings clarified again over allegations by Rani Kapur, mother of late Sona Comstar chairman, Sunjay Kapur, that the leading auto components manufacturer is not a 'family run' business. In a regulatory filing to the stock exchanges, Sona BLW said that Rani Kapur has 'no locus standi' on any business matter related to the company and has also not held direct or indirect role in the company 'since at least 2019'.

Sona Comstar also refuted Rani Kapur's 'coercion' claims as 'baseless', denying that she was not coerced into signing any documents."Insinuation that she was coerced to sign documents or that her approval is required is 'legally untenable."

It added that the ''continued dissemination of false narratives in the media to pursue personal legal agendas" has hurt shareholders and resulted in erosion of shareholders value. "Such actions are not only reckless but also deeply harmful to the company’s interests," said Sona BLW.

Sona Comstar clarified that Rani Kapur who wrote to the company through her legal representative seeking the deferral of the board meeting on July 25, is neither a shareholder nor an official of the company, and her consent is not legally needed to run the business. "Rani Kapur has had no role, direct or indirect, in Sona Comstar since at least 2019. She is neither a shareholder, director, nor officer of the company. As such, she has no locus standi on any matter related to the company," stated Sona BLW.

On July 25, Sona BLW conducted its annual general meeting (AGM) 'on schedule' and could not defer it based on 'legal counsel' after Rani Kapur asked for the postponement. Earlier, Kapur alleged coercion, misuse of documents, and unauthorised moves to appoint directors claiming to represent the Kapur family, weeks after her son’s death. Sona BLW confirmed that no documents have been signed or obtained from Rani Kapur by the company following the passing of Sunjay Kapur.

Sona Comstar comprises 71.98% public shareholding and 28.02% held by its corporate promoter, Aureus Investments Private Limited (AIPL). 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 promoter entity holds a stake of 28.02% and exercises no special rights or control. The assertion that the company is a family-run business is factually incorrect and misleading," said Sona BLW in its statement.

Sona BLW added that the company is run by a professional management and an independent Board, and the promoter entity - Aureus Investments - has only held one non-executive Board seat since the public issue of the company, currently has six independent directors and two executive directors with no relation to the family.

"The current board of nine members include two executive directors — both seasoned professionals with no affiliation to the Kapur family — and six independent directors with exemplary reputations and distinguished careers. The promoter entity holds no executive roles and has no involvement in day-to-day management or strategic control of the company," said the statement.

Sona BLW's board re-appointed Jeffery Mark Overly as the company's chairman for a second term, after the untimely death of chairman Sunjay Kapur last month. It said on Friday, "Following the tragic and untimely passing of Sunjay Kapur on 12 June 2025, the Board of Directors appointed unanimously Jeffery Mark Overly as Chairman on 23 June 2025."

Sunjay Kapur's wife, Priya Sachdev Kapur, was also appointed as a Non-Executive Director based on a nomination received from AIPL. "Her appointment was duly reviewed by the Board’s Nomination and Remuneration Committee and approved by the Board of Directors," said Sona BLW.

The decisions were 'fully compliant' with all laws and corporate governance norms, said the company. "Their appointments were ratified by an overwhelming majority of shareholders — 98.9% and 99.4% respectively — clearly reflecting broad investor confidence," the statement added.

Highlighting the 'continued dissemination' of false narratives for 'personal legal agendas', Sona BLW said shareholder’ value is being eroded. "With over 400,000 public shareholders, such actions are not only reckless but deeply harmful to the interests of the company."