Latest news with #Dayanidhi
New Indian Express
10-07-2025
- Business
- New Indian Express
As Marans explore amicable settlement with Stalin's intervention, Dayanidhi's allegations to get a silent burial
CHENNAI: Chennai Central DMK MP and former Union minister Dayanidhi Maran and his brother Kalanithi Maran who owns the Sun media empire have initiated the process to amicably settle the dispute, based on the advice and intervention of their uncle and Tamil Nadu Chief Minister MK Stalin, sources said. The dispute between the brothers came out in the open last month, with Dayanidhi issuing a legal notice to his brother and seven others on June 10 with grave allegations, accusing Kalanithi of appropriating the full control of the company through fraudulent and illegal means during the demise of their father and former Union Minister Murasoli Maran in 2003. In a nutshell, Dayanidhi had alleged that Kalanithi, who was merely an employee and not a shareholder of the company until their father's demise, took full control of the group, thereby denying rightful share to the other legal heirs, which included himself, his mother Mallika Maran and sister Anbukkarasi. According to sources, DMK president Stalin did not want the high profile dispute to play out in the public or in the courts, especially with the assembly elections less than a year away. TNIE has learnt that the Chief Minister intervened earlier as well, but there was no breakthrough, following which Dayanidhi sent the legal notice on June 10. Their sister Anbukkarasi was also part of the recent efforts to arrive at a solution, sources said. A well-known media personality with distant family ties with Marans was also reportedly involved in the mediation process between the two brothers. Although the settlement is yet to be formalised, sources said that the agreement involved Kalanithi paying Dayanidhi several hundred crores, but not any shareholding in the Sun TV Private Limited, the parent company of the group. It is noteworthy that Dayanidhi's legal notice highlighted Kalanithi already paying Rs 500 crore to his sister Anbukkarasi 'towards part of a settlement and initial payment'. The notice said this happened after Dayanidhi's earlier legal notice sent on October 7, 2024, for which Kalanithi 'issued a vague reply'. 'This settlement and initial payment clearly demonstrate your (Kalanithi) attempt to evade repercussions for the fraudulent activities you committed and to conceal your criminal actions,' it had said.
Indian Express
10-07-2025
- Business
- Indian Express
Exclusive: Marans patch up — how Stalin, Veeramani and N Ram brokered peace
It took DMK chief and Tamil Nadu Chief Minister M K Stalin's active intervention, including seeking the help of Dravidar Kazhagam president K Veeramani and The Hindu daily's N Ram, for the feud between the Maran brothers to be settled. Two top sources, in the Maran family and DMK, told The Indian Express that, as part of the deal, DMK MP Dayanidhi Maran gets around Rs 800 crore in cash and four plots of land in Chennai's elite Boat Club area, together valued at around the same. The dispute between the Maran brothers came to a head in early June when Dayanidhi issued a legal notice to elder brother Kalanithi, accusing him of fraudulent share allotments, corporate misgovernance, and unilateral decisions in the early 2000s when SUN TV Network was a private company. Sources said that while Dayanidhi had sought Rs 1,500 crore to settle, Kalanidhi was willing to offer only Rs 500 crore. Stalin, who has earlier too brokered peace in the Maran family, tried first on his own to get the two brothers to reach a settlement. After that failed, he turned to Veeramani and N Ram, both of whom have ties to the family. Sources said that three rounds of talks were held subsequently, including two in person and one via video conference, before a deal was reached. As per the notice sent by Dayanidhi, in 2003, while their father Murasoli Maran was in a coma, Kalanithi allotted himself 12 lakh equity shares at a nominal Rs 10 per share, consolidating over 60% stake in SUN TV. This, it alleged, reduced the stakes of the Maran family and M Karunanidhi families from 50% each to 20% each. Dayanidhi's notice also listed possible violations under the corporate law, the previous Indian Penal Code, and Prevention of Money Laundering Act. In a formal response to the allegations, in a filing to the stock exchange, SUN TV stated on June 20 that all these transactions had been legally vetted prior to the company's public listing. It called the allegations 'incorrect, misleading, speculative, defamatory and not supported by facts or law', and said the dispute with Dayanidhi was 'purely personal in nature' and had no bearing on its operations. Nevertheless, SUN TV took a beating in the markets, with its share prices dropping over 5% in intra-day trading, before recovering partially to close nearly 1% down. Over the following days, its stock experienced an overall decline of about 8% from recent highs – rattling investor confidence. A top source in the DMK first family confirmed that Stalin was visibly displeased over how the matter had unfolded publicly – especially so close to the Assembly elections next year – and, hence, stepped in to defuse the situation. Stalin's decision to turn to Veeramani, who will turn 92 this December, was prompted by his stature as an elder statesman of Tamil Nadu politics and respected figure in the Dravidian movement. Plus, unlike Stalin's family, Veeramani had no financial interests in SUN TV. N Ram, a senior journalist and former editor of The Hindu, also had a role to play as a relative of the Maran family. Ram has always been close to the DMK ideologically, while his stature in the media world lent credibility and balance to the mediation. 'First, Veeramani phoned the Maran family. After that the others also joined, and three rounds of talks were held between the last week of June and the first week of July,' a source said. 'Both parties were asked to refrain from speaking to the media and were urged to settle and move on.' The talks emphasised the cost to the reputation of the DMK and Maran family due to the dispute, as well as the protracted nature and high legal costs of continued litigation. The late Murasoli Maran was the nephew of Karunanidhi, making him a cousin of Stalin. He was responsible for the DMK gaining a voice – and space – in the Delhi power corridors, and served as a Cabinet Minister in multiple Central governments. As long as Murasoli was around as the family patriarch, Kalanithi and Dayanidhi heeded to his wishes and peace was kept. This was helped by the fact that the brothers chose different career paths – Kalanithi carving out an empire in regional television by founding SUN TV in 1993, which initially broadcast from Singapore, and Dayanidhi entering politics and leveraging his father's legacy to become the Union Minister for Telecom in the 2000s. The first rupture in the family was seen in 2007, when the Maran family newspaper Dinakaran published a poll favouring Stalin as Karunanidhi's political heir and placing Dayanidhi over Stalin's elder brother M Alagiri. The supporters of Alagiri reacted violently, including with an attack on the paper's office. Since then, tensions never settled down in the family. However, the financial angle being added to the list of grouses between the brothers made the current episode among the worst. 'This whole thing could have gone the other way,' said one senior source. 'But Stalin, Veeramani, and Ram made it clear: let this end now, before it weakens everyone.' While N Ram said 'I have no comment' when reached on the matter, Kalanidhi, Dayanidhi and Veeramani couldn't be contacted.
Time of India
09-07-2025
- Business
- Time of India
Uncle Stalin works out truce between Maran brothers
Chennai: A month after issuing a legal notice against his brother seeking a "fair share" in the profits of the Sun TV Network, MP Dayanidhi Maran on Sunday arrived at a truce with Sun TV Network chairman , thanks to the efforts of their uncle and chief minister M K Stalin. Tired of too many ads? go ad free now A source confirmed that Stalin mediated between the warring brothers and arrived at a compromise on Sunday evening. "It is true. He (Dayanidhi) will withdraw the notice," said the source. Dayanidhi sent a legal notice to his elder brother Kalanithi on June 10, accusing him of flouting rules and transferring to himself lakhs of shares of the Chennai-based Sun TV group, which are worth thousands of crores of rupees. Kalanithi had derived 5,926 crore as dividends till 2023 and another 455 crore in 2024, Dayanidhi said. This is not the first time that Stalin has played mediator within the family. In 2008, after a fall out between Karunanidhi's elder son M K Alagiri and the Maran brothers, Stalin with the help of his half-sister Kanimozhi, reunited the family. The legal notice to Kalanithi last month also recalls that soon after completion of the last rites of their father Murasoli Maran on Nov 24, 2003, "in family interest" and their mother's age, health and wellbeing, Karunanidhi, as head of the family, offered to mediate with Kalanithi, and asked if any arrangements had been made or decisions reached concerning the division of properties among the family members. Dayanidhi replied that his brother would take care of everything and will do all acts beneficial to the family as his father would have done. Years later, relations soured between the Maran brothers over their business holdings. The Sun TV Network reported a turnover of 4,544 crore for FY2024-25 and a net profit of 1,654.45 crore. Dayanidhi threatened to approach SFIO, SEBI, ED and other statutory organisations to initiate civil, criminal, regulatory and enforcement proceedings against Kalanithi and his associates, including his wife Kaveri Kalanithi, unless they restored Sun TV and all related companies to their original state as on Sep 15, 2003, by reinstating the shares to the rightful owners — M K Dayalu Ammal, wife of late CM M Karunanidhi, and the legal heirs of late Murasoli Maran within a week.
The Print
20-06-2025
- Business
- The Print
Sun TV Network, Maran brothers & an old feud. How Dayanidhi-Kalanithi clash was waiting to spill over
In his 10 June notice, Dayanidhi alleged that Kalanithi, the Sun TV Chairman and Managing Director, did not hold any share in the company until 15 September father and former Union minister Murasoli Maran, according to notice, was in coma and on life support from late 2002 until his death in November 2003. The dispute centers around the allotment and transfer of shares following the death of their father Murasoli Maran on 23 November 2003. Chennai: A simmering feud within the influential Maran family, proprietors of the Sun TV Network, has come to the fore again after former Union Minister and DMK MP Dayanidhi Maran sent a legal notice to his elder brother Kalanithi Maran alleging 'fraudulent share transactions' that 'unlawfully transferred control' of the media empire since 2003. 'The fraudulent transactions took place during this period,' a source privy to the legal notice told ThePrint. 'It was on 15 September 2003, shortly after Murasoli Maran was brought back to Chennai from the US, Kalanithi allotted himself 12 lakh shares in the then Sun TV Private Limited at a face value of Rs 10 each. At the time, each share was valued between Rs 2,500 and Rs 3,000 with the company's reserves, surplus exceeding Rs 252 crore.' The allotments, the legal notice mentions, were made without board or shareholders approval, giving 60 percent of the shares to Kalanithi, reducing the stakes of the original promoter. 'The fair market value of these shares is estimated to exceed Rs 3,500 crore, but Kalanithi allegedly paid only Rs 1.2 crore,' Dayanidhi alleged in his legal notice as per the sources privy to the notice. The legal notice was served on seven individuals including Kalanithi Maran, and his wife Kaveri Maran. Although there have been tensions between Dayanidhi and Kalanithi for more than two decades, sources close to the family say that the rift has come to the fore in the absence of the senior family members such as Murasoli Maran and Murasoli Selvam. A source close to the family revealed that Murasoli Selvam, their uncle and Karunanidhi's son-in-law, and Murasoli Maran had previously brokered peace. 'Now, with both elders no more, the lack of their moderating influence has allowed the rift to escalate,' the source told ThePrint. It is not the first time that Dayanidhi has sent a legal notice to his elder brother Kalanithi. On 7 October 2024, three days before the death of Murasoli Selvam, Dayanidhi sent the first notice to Kalanithi. 'When Murasoli Selvam learnt about it, he called Anbu (Dayanidhi Maran) and warned him for taking the family dispute to public. He also asked the brothers not to spoil the name of former chief minister and the DMK's first family,' the source told ThePrint. Kalanithi is lovingly called 'Pugazh' (meaning fame) and Dayanidhi as 'Anbu' (Love) within the family circles, the family friend said. Kalanithi and Dayanidhi Maran are the grandnephews of DMK patriarch M Karunanidhi. Their father Murasoli Maran was a former Union Minister and former editor of DMK's mouthpiece 'Murasoli'. Later, Murasoli's younger brother Murasoli Selvam had taken over as the editor of the DMK mouthpiece. While Murasoli was married to Mallika, Selvam was married to Karunanidhi's daughter Selvi. Kalanithi had paid Rs 500 crore to sister Anbukarasi after he was served the first notice, according to the source. ThePrint reached Kalanithi and Dayanidhi Maran over phone for comments, but they were unavailable. This report will be updated as and when a response is received. Meanwhile, the Sun TV Network Limited wrote to the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on 20 June that the alleged matter dates back to 22 years when the company was a closely held private limited company. 'All the acts have been done in accordance with legal obligations and the same had been duly vetted by concerned intermediaries before the public issue of the company,' it added. The allegations According to Dayanidhi's legal notice, the shareholding of Sun TV Private Limited was equally divided between two promoter families of Murasoli Maran and M. Karunanidhi. The DMK first family primarily held 50 percent of the shares through Karunanidhi's wife Dayalu Ammal. In his legal notice, Dayanidhi claimed that Kalanithi overnight got a 60 percent stake in the company after he allotted himself about 12 lakh shares in September 2003. This act reduced Murasoli Maran and Dayalu Amma's stake to 20 percent each, he adds. He also alleged that shares held by family-owned entities like Kungumam Publication, Kungumam Nidhi and Kal Investments, totaling about 2.85 lakh shares in Sun TV were also allegedly transferred to Kalanithi at Rs 10 each, consolidating his control further. Dayalu Ammal relinquished her shares in Sun TV on 28 October 2005, according to the legal notice. Dayanidhi further alleged that his elder brother bought 20 percent of the stake for just Rs 100 crore. Kalanithi purchased shares of Dayalu Ammal at Rs 3,173.04 per share, which was far below their fair market value, he claimed. While Kalanithi holds 75 percent of the Sun TV Network shares, Dayanidhi reportedly holds less than 20 percent. Also Read: Stalin's face front & centre, I-PAC hits ground running to shape DMK campaign for 2026 polls Past controversies Back in 2007, the Maran brothers had a rift with the DMK's first family after a survey was published in Dinakaran, a Tamil daily newspaper, that 70 percent of the respondents preferred as the DMK's successor over Karunanidhi's elder son That report led to Alagiri's supporters attacking Dinakaran's office in Madurai and setting it ablaze. Three people were killed in the episode. Not only did Karunanidhi publicly criticise Dayanidhi Maran for using the media to create divisions within the DMK, he and the family distanced themselves from the Marans. The DMK went ahead with launching its own television channels, including Kalaignar TV (entertainment channel), Kalaignar Seidhigal (news channel), to bypass Sun TV, which was until then seen as a DMK mouthpiece. Karunanidhi went to the extent of bringing the Government Cable TV distribution system to stop the monopoly of the Maran brothers, who had been controlling the cable distribution through Sumangali Cable Vision started in 2000. 'However, it became defunct later after the Maran family reconciled with the DMK's first family. It was Murasoli Selvam, uncle of the Maran brothers, who held talks with both the families and reunited them,' the above-mentioned source told ThePrint. From a weekly magazine to a media empire Sun TV Network Limited started as a Sumangali Publications Private Limited on 18 December 1985. After Kalanithi returned following his higher studies abroad, he took over the family's publishing business. In 1990, the media baron launched Poomalai, a Tamil video news magazine. Three years on, taking cue from the US television channels, Kalanithi founded Sun TV, with a three-hour Tamil programme everyday. In 1995, it became a 24 hours entertainment channel. Within five years, Kalanithi launched Sun News, a dedicated channel for news and current affairs in May 2000, which was the first ever 24/7 Tamil news channel in Tamil Nadu. In the same year saw the launch of Sumangali Cable Vision (SCV), a cable distribution company. 'After that there was no stopping Maran in building his media empire,' former DMK spokesperson a close aide of former chief minister Karunanidhi, told ThePrint. SCV remained a monopoly in the television cable distribution industry, which also had numerous television channels, he said.'With cable television distribution on one hand and having a bunch of television channels on the other hand, they held the fort for a long time.' As of now, Kalanithi Maran holds at least 36 television channels, apart from a production company, FM channels and three cricket teams. Sources in Sun TV Network shared that they hold three cricket teams, including Sunrisers Hyderabad in the Indian Premier League (IPL). 'Sunrisers Eastern Cape, a T20 franchise based in Gqeberha in South Africa, and the Northern Supercharges, based in Leeds in Yorkshire, are also held by Sun TV Network,' the source told ThePrint. (Edited by Tony Rai) Also Read: DMK wants young blood to join Dravidian ranks. It's counting on role with mouthpiece, fellowship
News18
20-06-2025
- Business
- News18
Sun TV Network Defends Promoter Kalanithi, Says All Legal Obligations Met
Agency: PTI Last Updated: Sun TV Network in a regulatory filing says the agreements between the two brothers had been "duly vetted" by "intermediaries" concerned before the company's public issue. A day after reports emerged of former Union minister Dayanidhi Maran accusing his brother of 'fraudulent practices" and 'misgovernance", the elder sibling Kalanithi-run Sun TV on Friday said the division between the promoter family done 22 years back was in compliance with all legal obligations. Defending its promoter Kalanithi, Sun TV Network in a regulatory filing said the agreements between the two brothers had been 'duly vetted" by 'intermediaries" concerned before the company's public issue. According to reports, Dayanidhi has sent a legal notice to his brother and several others, accusing them of 'fraudulent practices" and 'misgovernance" in taking control of Sun TV after their father Murasoli Maran's death in 2003. Dayanidhi, who is also a Lok Sabha member from the Dravida Munnetra Kazhagam (DMK), has sought to restore the company's shareholding structure to its pre-September 2003 status. The board of Sun TV Network is led by Kalanithi as Executive Director and Chairperson. His daughter Kavya Kalanithi Maran is also on the south-based broadcaster board. Kalanithi, as a promoter, owns 75 per cent shareholding in Sun TV Network. On Friday, Sun TV Network, in its regulatory filing said, 'The alleged matter dates back to 22 years when the company was a closely held private limited company." Defending the promoter, it further stated, 'Statements allegedly made in the articles are incorrect, misleading, speculating, defamatory and not supported by facts or law". 'We wish to inform that all acts have been done in accordance with legal obligations and the same had been duly vetted by concerned intermediaries before the public issue of the company," it said. Moreover, Sun TV Network also said the media reports claiming a rift between the promoter Maran brothers 'does not have any bearing on the business of the company or its day-to-day functioning". Sun TV Network also clarified that it is a 'family matter of the promoter" and is 'purely personal in nature". Besides Kalanithi, financial institutions, including mutual funds and insurance companies, own 10.46 per cent of the shareholding of Sun TV and 6.87 per cent by the foreign portfolio investors. Chennai-based Sun TV Network is among India's leading media conglomerates, having 37 television channels in seven languages, with a reach of more than 140 million households in India. Besides, it also owns Sun Direct, a DTH (direct-to-home) platform and operates 69 FM radio stations under the brand names — Suryan FM, RED FM and Magic FM. It also operates three daily newspapers and six magazines. In addition, Sun TV Network owns the Sunrisers Hyderabad franchise of the Indian Premier League and Sunrisers Eastern Cape of Cricket South Africa's T20 League. For the 2024-25 financial year, the network's total consolidated income was Rs 4,712.60 crore, down 1.55 per cent. Its profit after tax was down 11.53 per cent to Rs 1,703.64 crore, against Rs 1,925.80 crore a year earlier. First Published: June 20, 2025, 14:30 IST
