Fight For Sona BLW: Late Sunjay Kapur's Mother Calls For AGM Deferment
Rani Kapur, mother of late Sunjay Kapur, in her letter to SEBI, has said that her son died under mysterious circumstances.
Rani Kapur, mother of late industrialist Sunjay Kapur, has asked the board of Sona BLW Precision Forgings Ltd. to postpone its annual general meeting scheduled for July 25. She alleged coercion, misuse of documents, and unauthorised moves to appoint directors claiming to represent the Kapur family, weeks after her son’s death.
The letter, sent to the board and shareholders and marked to the markets regulator, has escalated tensions within the promoter group. The dispute sent Sona BLW shares down 2.6% on Thursday.
“I reiterate that by virtue of the Will left behind by my late husband, I am the majority shareholder in the Company and thereby the only authority to represent the interests of the family in the Company/Sona Group,” she wrote.
The family dispute followed the death of Sunjay Kapur on June 12, a well-known businessman and public figure. Sunjay had previously been married to fashion designer Nandita Mahtani and later to actress Karishma Kapoor. After his divorce from Karishma in 2016, he married model Priya Sachdev in 2017. He is survived by two children from his second marriage, as well as siblings Mandira Kapur and Superna Motwane.
Rani Kapur said she was approached repeatedly during her period of mourning and pressured to sign documents without any explanation. She claimed she was denied access to accounts and critical company information and said the papers signed under distress were now being misused.
For the record, I state that I have not given any consent or officially nominated any person to come on the Board of the Company or any other Sona Group Company after my son’s demise or given any consent to any person to represent me in any capacity before the Company and or any other Sona Group Company.Rani Kapur, Former Chairperson At Sona BLW
The agenda for Friday’s AGM included a resolution to appoint directors to the board. Kapur said she had no role in this and warned against proceeding without her approval.
“I reiterate, no one has the right currently, unless nominated by me, to represent the Sona Group’s interest in the Company,” she wrote. “Highly unsettling facts are coming to light and for the sake of the Company and the family it is imperative that no decisions are taken tomorrow,” she said in a letter
She requested a two-week deferral of the meeting to allow time for reviewing affairs, alleging that decisions were being rushed while she remained locked out of the company’s operations.
“If the Board and the shareholders however choose to ignore this letter, which I am writing in my capacity of not just being the grieving mother of Sunjay Kapur, but also the head of the Kapur family and the largest shareholder of the Company, it would be a clear case of mismanagement and breach of trust by the Company,” she added.
