Shares of Sun TV Network Ltd declined nearly 4% on Friday, June 20, following reports of a legal tussle between the company’s promoters—brothers Dayanidhi Maran and Kalanithi Maran. The drop in investor sentiment comes after Dayanidhi Maran, former Union Minister and DMK MP, sent a legal notice to his elder brother Kalanithi Maran, who is the chairman of the Chennai-based media conglomerate.
According to the legal notice dated June 10, 2025, Dayanidhi has alleged “fraudulent practices” by Kalanithi, including “cheating and money laundering.” The notice also demands the restoration of Sun TV’s shareholding to the original structure established in 2003, referencing the family legacy of their father, the late SN Maran (Murasoli Maran), and their mother MK Dayalu, wife of former Tamil Nadu Chief Minister M Karunanidhi.
The notice has also been served to seven other individuals, including Kalanithi’s wife, Kaveri Maran. Legal firm K Suresh of Law Dharma, based in Santhome, Chennai, has issued the notice.
The stock’s sharp decline reflects investor concerns around potential management instability and reputational risks stemming from the public family feud.
