CHENNAI: The family dispute clouding the Sun TV conglomerate appeared to blow over Monday with former Union minister Dayanidhi Maran withdrawing his high-stakes legal notice against elder brother Kalanithi Maran, in which he had accused the latter of fraud and other irregularities.
"Yes, the notice has been withdrawn. All issues between the brothers have been sorted out," a source close to the family told TOI.
After the notice was issued in June, plunging the media group into a crisis, Tamil Nadu chief minister M K Stalin intervened on July 9 and arranged conciliatory talks between the brothers.
Dayanidhi had accused his sibling of illegal transfer of shares worth thousands of crores and breach of trust. He threatened to approach statutory organisations like SFIO, SEBI and ED to initiate civil, criminal, regulatory and enforcement proceedings against Kalanithi and his associates, including his wife Kaveri Kalanithi, unless they restored M/s Sun TV Network Ltd and all related companies to their original state as on Sep 15, 2003.
This, according to the notice, involved reinstating the shares to the "rightful owners" - M K Dayalu Ammal, wife of the late CM M Karunanidhi, and the legal heirs of late S N Maran (Murasoli Maran) within a week.
As of 2024-25, Sun TV Network Ltd had reported a turnover of Rs 4,544 crore and a net profit of Rs 1,654.45 crore.
"Yes, the notice has been withdrawn. All issues between the brothers have been sorted out," a source close to the family told TOI.
After the notice was issued in June, plunging the media group into a crisis, Tamil Nadu chief minister M K Stalin intervened on July 9 and arranged conciliatory talks between the brothers.
Dayanidhi had accused his sibling of illegal transfer of shares worth thousands of crores and breach of trust. He threatened to approach statutory organisations like SFIO, SEBI and ED to initiate civil, criminal, regulatory and enforcement proceedings against Kalanithi and his associates, including his wife Kaveri Kalanithi, unless they restored M/s Sun TV Network Ltd and all related companies to their original state as on Sep 15, 2003.
This, according to the notice, involved reinstating the shares to the "rightful owners" - M K Dayalu Ammal, wife of the late CM M Karunanidhi, and the legal heirs of late S N Maran (Murasoli Maran) within a week.
As of 2024-25, Sun TV Network Ltd had reported a turnover of Rs 4,544 crore and a net profit of Rs 1,654.45 crore.
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