Sun TV family feud erupts: Dayanidhi Maran accuses brother Kalanidhi of multi-crore fraud

DMK MP and former Union Minister Dayanidhi Maran has sent a legal notice to his brother, Kalanidhi Maran, accusing him and seven others of fraud, criminal breach of trust, and cheating, a move that has exposed a rift within the Sun TV Network Ltd, one of the country's largest media groups.

The name of Kalanidhi's wife, Kaveri Maran, is also mentioned in the notice.

The notice alleges that after the death of their father in 2003, shares were transferred to their mother, Mallika Maran, without crucial legal documents like a death certificate or legal heir certificate. These documents were allegedly processed much later, which the notice claims ''was a deliberate maneuver to facilitate the eventual transfer of shares to Kalanidhi Maran''.

'Illegally allotted 12 lakh equity shares'

The legal notice alleges that on September 15, 2003, Kalanidhi Maran — referred to as “No. 1” in the document — illegally and unilaterally allotted 12 lakh equity shares of Private TV Network Ltd. to himself at a nominal value of ₹10 per share, without fair valuation, adequate consideration, or the consent of the other shareholders.

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At the time, the shares were allegedly worth between ₹2,500 and ₹3,000 each. The notice describes this move as fraudulent, a criminal breach of trust, and a violation of shareholder rights, further claiming that Kalanidhi appropriated 60% of the company’s shares without consulting or obtaining approval from the original majority shareholders.

The notice warns that Dayanidhi Maran is planning to seek formal inquiry by the Serious Fraud Investigation Office (SFIO)

'No need for additional capital'

The document also notes that the company was in a sound financial position during that period and had no need for additional capital, raising serious questions about the intent behind issuing new shares.

Further, the notice claims that over Rs 8,500 crore has been invested across various international and Indian REIT funds and mutual funds, citing linked savings accounts as part of the alleged irregularities.

The legal notice also alleges that Kalanidhi Maran filed a misleading red herring prospectus before SEBI, NSE, and BSE, using fraudulent documents, with the intent to list the company’s shares in connivance with lead managers—a move Dayanidhi claims was part of a larger conspiracy.

Kalanidhi Maran is the current majority stakeholder in the publicly traded Sun TV Network, holding a 75 percent ownership stake. He is recognised as one of India's wealthiest entrepreneurs, boasting a net worth of $2.9 billion.

The notice warns that Dayanidhi Maran is planning to seek formal inquiry by the Serious Fraud Investigation Office (SFIO).

These alleged actions are considered severe violations of company and criminal statutes, including the unlawful practice of money laundering.

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Demanding full redressal, Dayanidhi Maran has also called for restoring the company's ownership structure to its original form from 2003, referencing the heritage of their deceased father, Murasoli Maran, and MK Dayalu, the spouse of the former Chief Minister of Tamil Nadu, M Karunanidhi.

The notice, dated June 10, 2025, demanded returning all shares, dividends, assets, and monetary gains that were allegedly appropriated unlawfully over the past two decades.

Failing to meet these demands, the notice warns that civil, criminal, regulatory, and enforcement proceedings will be initiated against Kalanidhi Maran and others named in the notice.