Tensions escalate at Sona BLW: Cease-and-desist notice issued to Rani Kapur; late Sunjay Kapur’s mother accused of spreading ‘malafide’ information

Sona BLW Precision Forgings (Sona Comstar) has issued a cease-and-desist notice to Rani Kapur, mother of former chairman Sunjay Kapur, demanding she cease disseminating illegal and defamatory information, in accordance to knowledgeable sources, quoted by Economic Times.The notice calls for Rani withdraw her July 24 letter to the board, shareholders and stakeholders inside 24 hours. The firm has warned of potential civil or prison actions in opposition to her and associates if compliance is not achieved inside 3 days of receipt.The firm has firmly rejected her current allegations of mismanagement and coercion, labelling them as “malafide, false, unwarranted and uncorroborated.”ET Sources shut to Rani Kapur confirmed receipt of the notice by way of DSK Legal. They indicated she plans to reply after consulting her authorized staff. These sources famous that along with her financial institution accounts blocked, approaching the National Company Law Tribunal in Chandigarh seems to be her remaining choice.Last Thursday, Rani requested postponement of the annual basic assembly (AGM), alleging she was compelled to signal paperwork whereas grieving for her son. The firm proceeded with the AGM after authorized session, noting she wasn’t a shareholder and lacked standing to request postponement.Sunjay Kapur, Rani’s son, died aged 53 on June 12 from a coronary heart assault whereas enjoying polo within the UK. Rani Kapur claimed that she doesn’t know what occurred to her son. “I’m old now. I need closure before I go,” she stated in a video interview with ANI.Citing her declining well being, Kapur added that she wouldn’t make additional public feedback. “Given my health and my age, I will not be making any further comments. My legal team will address everything necessary.”The firm escalated issues on Monday by sending the notice to Rani and copying Sebi, in accordance to the ET sources.The notice questioned the timing of Rani’s letter, despatched simply earlier than the AGM, suggesting intent to hurt the corporate. It emphasised that Rani is not a shareholder and hasn’t held any firm function since 2019.The firm highlighted its profitable skilled administration since founder Surinder Kapur’s dying.The possession construction reveals 71.98% public shareholding by way of institutional traders, while promoters maintain 28.02% through Aureus Investments Pvt Limited (AIPL).Following Sunjay’s dying, the corporate maintained transparency, appointed a brand new chairman and carried out the AGM. Priya Sachdev, Sunjay’s spouse, grew to become a non-executive director following AIPL’s nomination, ratified at Friday’s AGM. The firm termed Rani’s actions “lamentable.”Sona BLW shares have declined roughly 3 p.c over 5 classes.The firm launched a public assertion Monday night, asserting Rani’s lack of standing in firm issues.The assertion rejected claims of household management, noting Aureus Investments holds one non-executive board place. It emphasised that six unbiased administrators and two govt administrators haven’t any household connections. “The current board of 9 members include two executive directors — both seasoned professionals with no affiliation to the Kapur family — and six independent directors with exemplary reputations and distinguished careers. The promoter entity holds no executive roles and has no involvement in day-to-day management or strategic control of the Company,” stated the assertion, quoted by ET.