Tamil Nadu CM Advises Maran Brothers to Settle Sun TV Share Dispute

Chennai, July 10 (PTI) Tamil Nadu Chief Minister M K Stalin has reportedly advised DMK MP Dayanidhi Maran and his elder brother Kalanithi Maran, chairman of Sun TV Network, to amicably settle their dispute over the shares of Sun TV Network.

A reliable source indicated on Thursday that the DMK president recently urged the Maran brothers to resolve their differences for the sake of family harmony. However, there has been no official confirmation from the Maran brothers.

This attempt at reconciliation follows Dayanidhi's legal notice to his elder brother, sister-in-law, and six others about a month ago. He objected to the 2003 share transactions of Sun TV Network, alleging that Kalanithi allocated 60% of the shares to himself without proper consultation or approval from the existing majority shareholders. He claimed this was done in collusion with other respondents, making Kalanithi the majority shareholder with controlling interest.

Sun TV, however, informed the Bombay Stock Exchange on June 20 that the issue dated back 22 years to when the company was a closely held private entity. They maintained that all actions were conducted in compliance with legal obligations and were thoroughly vetted by the relevant intermediaries before the public offering of the company.

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