In a dramatic escalation within the Sun TV family, DMK MP and former Union Minister Dayanidhi Maran has issued a legal notice to his brother Kalanidhi Maran, the chairman of Sun TV Network, accusing him of fraud, criminal breach of trust, and cheating.
The notice also names Kalanidhi’s wife, Kaveri Maran, and seven others.
The legal dispute centers around the alleged misappropriation of shares in the family’s media business following the death of their father, Murasoli Maran, in 2003.
According to the notice, shares were initially transferred to their mother, Mallika Maran, without necessary legal documents such as a death certificate or legal heir certificate — suggesting deliberate intent to facilitate eventual control by Kalanidhi.
Dayanidhi alleges that on September 15, 2003, Kalanidhi unlawfully allotted 12 lakh equity shares of Private TV Network Ltd. to himself at a nominal ₹10 per share, while the actual market value was said to be between ₹2,500 and ₹3,000 per share.
This move allegedly allowed Kalanidhi to seize 60% ownership without proper valuation or shareholder consent, despite the company being financially healthy and having no need for fresh capital.
The notice further accuses Kalanidhi of laundering over ₹8,500 crore through various Indian and international REITs and mutual funds, and of filing a misleading red herring prospectus with SEBI, BSE, and NSE as part of a broader conspiracy to fraudulently list company shares.
Currently, Kalanidhi Maran holds a 75% stake in the publicly listed Sun TV Network and is among India’s wealthiest entrepreneurs, with an estimated net worth of $2.9 billion.
Dayanidhi is seeking a full restoration of the company’s ownership structure to its 2003 status and plans to petition the Serious Fraud Investigation Office (SFIO) to launch a formal probe.
The notice demands the return of all shares, dividends, and assets allegedly gained unlawfully over the past two decades.
Failure to comply will trigger civil, criminal, and regulatory proceedings, the notice warns.
The legal notice, dated June 10, 2025, was issued by Chennai-based litigation firm Law Dharma. Sun TV Network shares closed at ₹613.50 on Thursday, down 0.74%.
