Sona BLW Precision Forgings Ltd (Sona Comstar) has officially declined the deferment request made by Rani Kapur, the mother of late Chairman Sunjay Kapur, stating that the company could not postpone the Annual General Meeting (AGM) scheduled on July 25, 2025, as she is not a shareholder. This decision was taken after seeking urgent legal counsel, with the company asserting that there was no legal basis to defer the meeting.
Earlier, shares of Sona BLW fell after Rani Kapur wrote to the company’s board requesting the deferment of the AGM. In her communication, she alleged coercion, misuse of documents, and accused the current management of trying to usurp the family’s legacy. The serious nature of her allegations has sparked investor concerns regarding potential governance issues and internal boardroom conflicts.
These developments come at a time when the stock is already under scrutiny due to its premium valuation, trading at a P/E ratio of 48.80 and offering a dividend yield of 0.66%. While the AGM proceeded as planned, the market continues to monitor the situation closely for further developments.
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