Rani Kapur, the former Chairperson of auto component maker Sona Comstar and mother of late industrialist Sunjay Kapur, has alleged foul play in the circumstances leading to her son's death and the developments that followed within the company. A day before the company was scheduled to hold its annual general meeting (AGM), Kapur sent an email to Sona Comstar's board requesting a postponement of the AGM by at least two weeks.
In a letter published by CNBC TV18, Rani Kapur claims, "My son Mr. Sunjay Kapur tragically passed away under highly suspicious and unexplained circumstances in the United Kingdom. Despite me seeking information, I have been unable to receive any relevant answers and documents explaining the incident and have been confined to the knowledge and version set out by the media."
The ex-Chairman and Managing Director of Sona Comstar died on June 12 in the UK. He had taken over the company after the death of his father and Sona Comstar founder, Surinder Kapur, in 2015. Sona Comstar’s 28.02% stake is held by the Kapur family via Aureus Investment Pvt Ltd. As of July 15, the company has three directors — Priya Sachdev Kapur, Sunjay Kapur, and Dinesh Kumar Agarwal — according to Falcon Ebiz.com.
In her letter, Rani Kapur claimed that she is the sole beneficiary of the family’s estate. However, the company stated, “As per company records, Mrs. Rani Kapur has not been a shareholder of the company at least since 2019.”
“In May 2019, the company received a declaration of significant beneficial ownership identifying Shri Sunjay Kapur as the sole beneficial owner of RK Family Trust, a significant shareholder of AIPL,” Sona Comstar said in a statement on Friday.
Another allegation from Rani Kapur was that she was “compelled to sign various documents without explanation or even having time to read and understand the same.”
"Despite being under immense mental and emotional distress, I was coerced into signing such documents behind locked doors and, though I’ve requested repeatedly, the contents of such documents have never been revealed to me. Please also take note that I have been totally denied access to my accounts and have been left to the mercy of a select few for survival — all this, in less than a month of my only son passing away," she wrote.
“For clarity, the company confirms that no documents have been signed or obtained from Mrs. Rani Kapur by the company following the passing of Mr. Sunjay Kapur,” the company stated.
AGM Appoints Sunjay Kapur’s Wife to Board
Rani Kapur’s key contention centres around the appointment of a family representative, which was to be decided at the AGM. At the meeting, shareholders were set to vote on the appointment of Priya Sachdev Kapur, wife of Sunjay Kapur, as a Non-Executive Director, with the company confirming it had received all required statutory declarations from her.
“Priya Sachdev Kapur was appointed as a Non-Executive Director based on a nomination received from M/s Aureus Investments Private Limited. Her appointment was duly reviewed by the Board’s Nomination and Remuneration Committee and approved by the Board of Directors of the company,” the company stated.
Rani Kapur alleged that the appointment of new directors representing the Kapur family was being made without her knowledge or consent.
Citing a lack of transparency, restricted access to key documents and accounts, and what she describes as "gross illegalities," Rani demanded that the AGM be deferred immediately. She warned that proceeding without her involvement would constitute mismanagement and breach of trust, and reserved the right to take further action if her objections were ignored.
“Given our respect for Mrs. Kapur, the company sought urgent legal advice from one of India’s most reputed law firms regarding the legality of proceeding with the AGM. Based on the legal counsel and the fact that Mrs. Kapur is not a shareholder of the company, the company concluded that it could not defer the AGM,” Sona Comstar said.
The Sona Comstar board has not responded further to the above allegations. The company's shares closed down 3.9% at ₹471.20.
