An Indian tycoon’s sudden death has triggered a fierce inheritance battle involving his family and the company he left behind. Sunjay Kapur, 53, suffered a heart attack while playing polo in the UK. He was an heir to Sona Comstar, a business empire worth $3.6 billion that he inherited from his father. The company is a major player in the auto component industry with plants in India, China, Mexico, and the US.
Kapur was widely known for his love of polo and his connections to India’s elite. He was married three times, having relationships with designer Nandita Mahtani, Bollywood actress Karisma Kapoor, and former model and entrepreneur Priya Sachdev.
However, since his death, the issue of succession has led to significant media speculation. Central to the dispute is Kapur’s mother, Rani Kapur. She claims that there were “highly suspicious and unexplained circumstances” surrounding her son’s death. She also alleges that she was forced into signing key documents under mental distress and has questioned certain appointments made by the company after his death. Rani wrote to the board of Sona Comstar requesting a delay in their annual general meeting (AGM) to decide who will direct the company. In response, Sona Comstar appointed Kapur’s wife, Priya, as a non-executive director despite Rani’s objections.
Public shareholders hold 71.98% of Sona Comstar, while the rest is held by promoters through a company called Aureus Investments Pvt Ltd. Sunjay Kapur held the sole beneficiary status of the RK Family Trust, which controls the shareholders’ stake in Sona Comstar.
Family succession battles are common in India, where family-run companies often lack formal succession plans. Legal experts say that without clear agreements and meritocracy, disputes can arise over ownership and leadership, which can be difficult to resolve amicably.
Source: https://www.bbc.com/news/articles/c6203djnp84o?at_medium=RSS&at_campaign=rss
