Family Feud Disrupts Sona Comstar: Navigating Succession Challenges Following Sunjay Kapur’s Passing
In a dramatic turn of events, Sona Comstar’s Annual General Meeting (AGM) on July 25 unfolded amidst a backdrop of grief and corporate intrigue. The meeting proceeded despite a heartfelt request from Rani Kapur, the mother of the late chairman Sunjay Kapur, to postpone it for two weeks. Rani’s plea highlighted the family’s turmoil following Sunjay’s sudden death, which she described as occurring under “highly suspicious and unexplained circumstances.” The AGM not only addressed routine corporate matters but also revealed a brewing succession battle within the company.
Rani Kapur’s Emotional Plea
Rani Kapur, who claims to be a significant shareholder and is the widow of Sona Group founder Surinder Kapur, urged the board to delay the AGM. She expressed that the family was still grappling with the shock of Sunjay’s passing and that critical decisions regarding the company’s future were being made without her consent. In her letter to the board and shareholders, Rani labeled the AGM as “insensitive,” accusing certain individuals of taking advantage of the family’s tragedy to gain control of the company. One of her main objections was the proposed appointment of Sunjay’s wife, Priya Sachdev Kapur, as a non-executive director, a move she claimed she had not authorized. Rani alleged that she was coerced into signing documents without being fully informed about their contents, stating, “I was emotionally shattered, and I was coerced into signing documents I was never shown.”
Sona Comstar’s Firm Response
In response to Rani Kapur’s allegations, Sona Comstar maintained that the AGM was conducted in full compliance with legal and regulatory requirements. The company dismissed Rani’s claims, asserting that she had not been a shareholder since at least 2019. According to company filings, Sunjay Kapur was the sole beneficial owner of the RK Family Trust, which holds shares through the promoter firm Aureus Investments Pvt Ltd. Sona Comstar rejected Rani’s assertion of majority ownership based on her late husband’s will, clarifying that no documents had been signed or obtained from her after Sunjay’s death. The company emphasized that the AGM proceeded as planned, countering Rani’s claims of coercion and misrepresentation.
The Rise of Priya Sachdev Kapur
At the center of the ongoing family feud is Priya Sachdev Kapur, Sunjay’s third wife, who has quickly established herself within the company’s board. Despite her recent widowhood, Priya has been formally inducted into the board, a decision that received approval from shareholders and the Nomination and Remuneration Committee. Sona Comstar confirmed that Priya had submitted all necessary statutory documents and was not disqualified under any legal provisions. Additionally, the board appointed Jeffrey Mark Overly as the new chairman shortly after Sunjay’s death, further intensifying speculation about a swift and calculated transition of power within the company.
The Circumstances Surrounding Sunjay Kapur’s Death
Sunjay Kapur, a prominent industrialist and polo patron, passed away unexpectedly on June 12 in Windsor, England. He reportedly collapsed during a match at the prestigious Guards Polo Club after swallowing a bee, which triggered a fatal heart attack. Sona Comstar confirmed his death in an official statement, while the polo club noted that he “became unwell” during play at a venue associated with Britain’s royal family. Sunjay, who took the helm of Sona Comstar in 2015, was instrumental in expanding the company’s operations globally, particularly in electric vehicle systems and components. His sudden passing has left a significant void in both his family and the company, igniting a fierce battle over his legacy and control of Sona Comstar.
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