Automotive technology firm Sona Comstar on Friday responded to deferment requests raised by Rani Kapur—mother of the company’s deceased Chairman Sunjay Kapur—clarifying that she “has not been a shareholder of the Company at least since 2019”.
Rani Kapur had written to the Sona Comstar Board seeking deferment of the Annual General Meeting (AGM) scheduled for July 25.
In her email, she alleged that the company had been tying to usurp her family’s legacy by means of coercion and misusing documents following the vacuum left behind by her son’s death on June 12. Citing these reasons, she urged that the AGM be deferred by at least two weeks.
Rani Kapur’s email also alleged that by virtue of a will executed in 2015 by her late husband, Surinder Kapur, she was the sole beneficiary of the estate and a majority shareholder in the company.
However, Sona Comstar refuted this claim, stating that 28.02 per cent of the company was held by Aureus Investments Private Limited (AIPL), the ccompany’s corporate promoter, while the rest was held in public shares.
“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,” the company statement added, in its defence.
Sona Comstar’s clarification of Rani Kapur’s allegations, as well as their decision to go ahead with the AGM as planned—based on legal advice—has now made it unclear how much of AIPL or RK Trust she owns.
Sunjay Kapur shock demise on June 12 this year follows a heart attack while playing polo in England, after reportedly swallowing a bee.