‘Forced to sign documents, left to mercy of select few’: Month after bizman Sunjay Kapur’s death, mother writes to Sona Comstar board

The market cap of Sona Comstar is close to Rs 30,000 crore, and 72% of its shares are held by the public and 28% (Rs 8,200 crore) of its shares are held by its corporate promoter, Aureus Investments Private Limited.

The letter was written by Rani hours before an annual general meeting (AGM) of the company was scheduled for Friday.

The letter, in which Rani identified herself as the majority shareholder of the Sona Group, stated: “I was approached multiple times and compelled to sign various documents without explanation or even having time to read and understand the same. Despite being under immense mental and emotional distress, I was coerced into signing such documents behind locked doors… the contents of such documents have never been revealed to me.”

In the letter, which was also copied to the Securities and Exchange Board of India (SEBI), Rani also alleged that she has lost access to all her bank accounts. “Please also take note that I have been totally denied access to my accounts and have been left to the mercy of a select few for survival. All this, in less than a month of my only son passing away,” she said.

Rani further said her late husband, Surinder Kapur — the founder of Sona Group, who passed away in 2015 — had, via a will dated June 30, 2015, made her the sole beneficiary of his estate and also a majority shareholder of the Sona Group.

“It is unfortunate that while the family and I are still in mourning, some people have chosen this as an opportune time to wrest control and usurp the family legacy,” she wrote while requesting that the AGM be postponed by two weeks.

She further alleged that in the AGM, a resolution would be passed to appoint certain directors in the company as representatives of the Kapur family, without her involvement.

“Unfortunately, once again, nothing has been told or explained, let alone discussed with me regarding this by the company or people involved,” she said.

Rani, who is being represented by senior advocate Vaibhav Gaggar and advocate Smriti Churiwal, added that she had “not given any consent or officially nominated any person to the board of the company or any other Sona Group company after my son’s demise or given any consent to any person to represent me in any capacity before the company and or any other Sona Group company”.

The Indian Express has learnt that Sona Comstar, while denying all allegations, said that it did not defer its AGM — which was “scheduled in full compliance with the law” — despite the request from Rani Kapur, as she is not a shareholder in the company.

On June 12, Sunjay died at the age of 53 following a heart attack.