Sona Comstar AGM row: Company rejects late Sunjay Kapur’s mother Rani Kapur’s deferment plea, cites ‘not on record as shareholder since 2019’

Amid a brewing ownership dispute at Sona BLW Precision Forgings (Sona Comstar) following the sudden death of its chairman Sunjay Kapur, the company on Friday said it went ahead with its Annual General Meeting (AGM) in full compliance with legal and regulatory requirements, despite a request for postponement by Rani Kapur, the mother of the late chairman.Mother alleges attempts to ‘usurp’ legacyIn a letter dated July 24 addressed to the company’s board, Rani Kapur—former chairperson of the Sona Group and wife of former chairman Surinder Kapur—alleged that while the family is still in mourning, “some people have chosen this as an opportune time to wrest control and usurp the family legacy.”She further alleged that Sunjay Kapur’s death in the UK last month occurred under “highly suspicious and unexplained circumstances” and stated she had not consented to or nominated anyone to represent the family on the board of Sona Comstar, PTI reported.“I have been informed by well-wishers that an AGM of shareholders has been kept wherein one of the items is the passing of a resolution to appoint certain directors in the company as being the representative of the Kapur family,” her letter read.She claimed she was kept in the dark and requested the AGM be postponed by at least two weeks. Rani Kapur also asserted that as the sole beneficiary of her late husband Surinder Kapur’s estate—based on a will dated June 30, 2015—she remains the majority shareholder of the Sona Group, including Sona Comstar.Company says Rani Kapur not a shareholder since 2019However, in a regulatory filing, the company stated that Rani Kapur has not been recorded as 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 Aureus Investments Private Ltd (AIPL),” the filing said.Sona Comstar, which became a public limited company in June 2021, said 71.98% of its shares are now publicly held, while the remaining 28.02% are with corporate promoter AIPL.The company confirmed that it had received Rani Kapur’s email late on July 24 requesting a deferment. After urgent legal consultation and taking into account that she is not a shareholder, Sona Comstar concluded it could not postpone the AGM.“The AGM was conducted on schedule, in full compliance with applicable laws and regulatory frameworks,” the company said, quoted PTI.Priya Sachdev Kapur appointed to board, mother alleges lack of consentAmong the resolutions passed at the AGM was the appointment of Priya Sachdev Kapur—wife of the late Sunjay Kapur—as a Non-Executive Director. She had been appointed as an Additional Director on June 23, 2025, based on a nomination received from AIPL, and her appointment had been reviewed by the Board’s Nomination and Remuneration Committee.Rani Kapur, in her letter, also claimed that people were falsely presenting themselves as the “largest shareholders” by claiming to represent the family’s interest. She reiterated that by virtue of the will, she alone was entitled to that position.She further alleged that she had been “compelled to sign various papers” during a fragile emotional state after her son’s death, without knowing their contents.Company denies obtaining any documents from Rani KapurResponding to this, the company said: “For clarity, the company confirms that no documents have been signed or obtained from Rani Kapur by the company following the passing of Sunjay Kapur.”Sunjay Kapur passed away in London on June 12 while playing polo. On June 23, 2025, the board unanimously appointed Jeffery Mark Overly as Chairman.