Dayanidhi Maran Accuses Brother of Fraud
DMK MP Dayanidhi Maran has launched a fierce legal offensive against his brother, Sun TV’s executive chairman Kalanithi Maran, accusing him of “fraudulent practices” in acquiring shares of Sun TV Network Limited. In a brutal escalation of the Maran family feud, Dayanidhi's legal notice, dated June 10, 2025, demands the immediate restoration of shareholding to the structure that existed in 2003, citing sham transactions and illicit transfers since the passing of their father, SN Maran, also known as Murasoli Maran.
Sun TV: A Media Titan Under the Microscope
Sun TV, headquartered in Chennai, is among India’s largest media conglomerates—boasting news, entertainment, and regional channels, and valued at nearly ₹24,000 crore as of March 2025. It was founded by SN Maran and DMK patriarch M. Karunanidhi. Over decades, the channel grew into a powerful cultural and economic institution in South India. However, its towering success now stands shadowed by explosive intra-family legal allegations.
Allegations Unpacked: The Core Accusations
The heart of Dayanidhi’s legal claim revolves around a complex scheme of share transfers following their father's death in 2003. He alleges that shares meant for their late parent were diverted to their mother, Mallika Maran, via questionable methods—without proper death or legal heir certificates, according to his notice—which were obtained only days or months later.
Key allegations include:
· 2003 Share Allotment: Kalanithi allegedly allotted himself 12 lakh equity shares of Sun TV at ₹10 per share, bypassing valuation norms and shareholder consent. This stake, worth over ₹3,500 crore then, was claimed to have been acquired for a mere ₹1.2 crore—a transaction Dayanidhi calls blatant fraud.
· Subsequent Transfers: Additional dubious transfers traced back to October 2005 (from MK Dayalu, Karunanidhi’s widow), December 2005 (Mallika Maran), and transfers from affiliated companies—all allegedly executed without due process.
· Bonus Shares & Prospectus Misstatements: Kalanithi is accused of self-awarding bonus shares improperly and misrepresenting dividend payments in Sun TV's Red Herring Prospectus. The notice claims the prospectus falsely reported a ₹10.64 crore dividend paid to Mallika Maran in 2005—an amount allegedly never paid.
· Settlement Payment as Cover-Up: A prior legal notice from October 2024 reportedly prompted a ₹500 crore settlement paid by Kalanithi to his sister, Anbukarasi. Dayanidhi suggests this was a perfunctory settlement to dodge accountability for the alleged fraud.
Stakes: Wealth, Power, and Regulatory Threats
As of March 31, 2025, Kalanithi is said to hold 29.55 crore shares in Sun TV, accounting for a 75% stake. Dayanidhi's notice is direct: he demands the reversal of shareholding to the 2003 structure and restitution of “all unlawfully acquired financial benefits” within seven days of receipt—or else he will unleash a wave of legal and regulatory fire.
He has signaled intent to involve nearly every regulatory authority: the Serious Fraud Investigation Office (SFIO), the Economic Offences Wing, Enforcement Directorate, SEBI, stock exchanges, the Ministry of Information & Broadcasting, and even the BCCI and DGCA. He emphasizes that the alleged fraud cost him, Mallika, Anbukarasi, and others “massive financial losses.”
Family, Legacy, and Democracy at Stake
What emerged as a bitter sibling dispute has rapidly evolved into a landmark battle over corporate governance, legality, and media influence. With the Maran family deeply entwined in Tamil Nadu politics and Sun TV as a cultural institution, the implications go far beyond boardroom machinations.
Sources close to Kalanithi have remained silent, while the notice's law firm—Law Dharma’s K. Suresh—declined comment. The board’s composure may be tested if legal and regulatory scrutiny intensifies.
A Defining Moment for Corporate Ethics
This legal showdown underscores a critical question: can legacy media houses survive family power struggles without losing public trust? Dayanidhi Maran’s aggressive legal action suggests a high-stakes reckoning is underway—rooted in allegations of fraud amounting to billions.
For Sun TV, its future now hinges not just on court verdicts but on restoring governance credibility. If Dayanidhi’s claims hold, this would mark one of India’s most significant corporate fraud cases involving a media giant and a political dynasty. Either way, the Maran household has set the stage for a drama-scape that could ripple through India’s corporate and political arenas for years to come.
This isn’t just a sensational family feud—it’s a test of India’s corporate governance, regulatory frameworks, and the entanglement of media with political power. The outcome will set precedents on boardroom ethics and familial trust within South Asia’s media-political nexus.
(With agency inputs)
