DMK MP and former Union Minister Dayanidhi Maran has launched a legal battle against his billionaire brother, Sun TV Network Chairman Kalanithi Maran, alleging a “fraudulent takeover” of the media empire following their father’s death in 2003. A 46-page legal notice, dated June 10, accuses Kalanithi and seven others, including his wife Kavery Maran, of orchestrating a deceptive scheme to seize control of the company.
The notice claims that on September 15, 2003, just days after their critically ill father Murasoli Maran was brought to Chennai from the U.S., Kalanithi allocated himself 12 lakh shares at ₹10 per share (totaling ₹1.2 crore) without shareholder consent. This transaction, valuing the shares at approximately ₹3,500 crore based on 2003 valuations, allegedly boosted Kalanithi’s stake from 0% to 60% overnight. It diluted the holdings of the Maran and Karunanidhi families from 50% each to 20%.
Kalanithi reportedly earned ₹5,926 crore in dividends until 2023 and ₹455 crore in 2024 alone from these shares. The notice demands full restitution of these “unlawful” gains and restoration of the pre-September 2003 share structure within seven days.
Sun TV’s shares plunged 4-5% following the news, reflecting investor unease. Dayanidhi threatens comprehensive legal action, including complaints to the Serious Fraud Investigation Office (SFIO), SEBI, and the Enforcement Directorate for charges of cheating, money laundering, and falsifying IPO documents.
