The decline comes after Rani Kapur, mother of the late Sunjay Kapur and majority shareholder in the Sona Group, reportedly sent a letter to the board of Sona Comstar and its shareholders, seeking a postponement of the AGM by at least two weeks. She alleged coercion, misuse of documents, and attempts to “usurp the family legacy” in the wake of her son’s “sudden and suspicious” death.
Kapur’s lawyer, Vaibhav Gaggar, said, “Rani Kapur is the head of the Kapur family and the head of the Sona Group… She has her apprehensions about how things happened.” He further noted that Sunjay Kapur’s death “did not seem to be natural at all.”
Sunjay Kapur passed away on June 12 in England at the age of 53, reportedly after suffering a heart attack while playing polo. According to reports, the incident was triggered after he swallowed a bee during the match.
In her communication, Rani Kapur expressed strong objections to the timing of the AGM, stating that it was being held during a period of deep mourning. She also claimed that she was made to sign documents while in a vulnerable state, without being informed of their contents.
“The contents of such documents have never been revealed to me,” she wrote, adding that she has been denied access to key accounts and documents ever since.While Sona Comstar has not issued an official response to the allegations at the time of publishing, the development has clearly unsettled market participants, with the stock witnessing increased volatility and investor caution ahead of the scheduled AGM.Also read: LIC’s Rs 15 lakh crore portfolio shakeup: Defence stocks in, retail darlings Suzlon, Vedanta out
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