Sona BLW chairman's death sparks battle over ownership, mother alleges coercion

Disputes over control and ownership at Sona BLW have erupted following the passing of chairman Sunjay Kapur, with his mother Rani Kapur alleging coercion and calling for the AGM to be postponed. The company has issued a statement denying any coercion or unauthorized actions. Kapur claims to be the sole beneficiary of her late husband's estate and a majority shareholder of the Sona Group. The stock tumbled 4.28% on the BSE following the news.

Disputes over control and ownership at Sona BLW have erupted following the passing of chairman Sunjay Kapur, with his mother Rani Kapur alleging coercion and calling for the AGM to be postponed. The company has issued a statement denying any coercion or unauthorized actions. Kapur claims to be the sole beneficiary of her late husband's estate and a majority shareholder of the Sona Group. The stock tumbled 4.28% on the BSE following the news.

Rani Kapur, the mother of Sunjay Kapur, has sent a letter to the company board alleging that she was 'coerced' into signing documents behind 'locked doors' since her son's passing. She has requested the board to defer the annual general meeting (AGM) scheduled for Friday by at least two weeks to a mutually convenient date. Kapur claims she has been denied access to her accounts and is at the 'mercy' of a select few for survival [1].

The company has stated that no documents have been signed or obtained from Rani Kapur by the company following Sunjay Kapur's passing. The AGM proceeded with nine items to vote, including the reappointment and appointment of some directors. The voting results will be made public within two days [1].

Rani Kapur, in her letter, claimed that she is the former Chairperson of the company and the wife of the late Surinder Kapur, the founder of Sona Comstar and the Sona Group. She stated that by virtue of the will dated 30.06.2015, executed by her late husband, she is the sole beneficiary of his estate and accordingly, also a majority shareholder of the Sona Group, including the company [1].

The company has stated that according to the latest data on Sona BLW's shareholding pattern on stock exchanges, Rani Kapur and the RK Family Trust are a promoter group for the company, and she owns 72 shares in the company [1].

Following the untimely passing of Sunjay Kapur on 12 June 2025, the Board of Directors unanimously appointed Jeffery Mark Overly as Chairman on 23 June 2025 [1].

Sona Comstar is a public limited company listed on Indian stock exchanges since June 2021, with 71.98% public shareholding and 28.02% held by its corporate promoter, M/s Aureus Investments Private Limited (AIPL) [1].

Rani Kapur's lawyer confirmed that she seeks a pause in proceedings to ensure decisions are taken with full awareness. She has not given any consent or officially nominated any person to come on the Board or represent her in any capacity [2].

The company has stated that based on legal counsel and the fact that Rani Kapur is not a shareholder of the company, it could not defer the AGM [1].

References:
[1] https://www.business-standard.com/industry/news/battle-for-ownership-brews-at-sona-blw-after-sunjay-kapur-death-125072501514_1.html
[2] https://m.economictimes.com/industry/indl-goods/svs/engineering/rani-kapur-seeks-postponement-of-sona-comstar-agm-amid-allegations-of-coercion-misrepresentation/articleshow/122898639.cms
[3] https://m.economictimes.com/industry/auto/auto-components/sona-comstar-says-rani-kapur-not-a-shareholder-confirms-rejecting-her-request-to-postpone-agm/articleshow/122905951.cms