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Journalism of Courage
Sona Comstar Family Feud Explained: In June, Sunjay Kapur, chairman of the Rs 30,000-crore auto parts giant Sona BLW Precision Forgings Ltd (Sona Comstar), died unexpectedly while playing polo in the UK. Initial reports cited cardiac arrest as the cause. His untimely death at 53 triggered a bitter power struggle within the Kapur family over control and inheritance of the sprawling Sona Group empire.
Mandhira Kapur, sister of the late Sunjay Kapur, and their 80-year-old mother, Rani Kapur, have been sidelined after the company rejected their claims and brought Sunjay’s wife, Priya Sachdev Kapur, onto the Sona Comstar board.
What mother, daughter say
Rani Kapur allegedly wrote to the Sona Comstar board in late July this year, expressing concerns about her son’s death and challenging the company’s subsequent appointments.
Mandhira Kapur has gone on record alleging that neither she nor her mother retain any ownership in the Rs 30,000-crore Sona Comstar empire. The family only recently became aware that their shares and assets had allegedly been transferred into what she described as a “so-called trust,” effectively cutting them out of the business they helped build, she alleged. She claimed that during the 13-day mourning period, Rani Kapur was repeatedly pressured into signing legal documents behind closed doors, without being fully aware of what she was agreeing to.
The company brings in sister-in-law
On July 25, the company appointed Priya Sachdev Kapur, wife of the late Sunjay Kapur, as a non-executive director following a nomination by the promoter entity, Aureus Investments Pvt Ltd. This came just two days after the board had unanimously named independent director Jeffrey Mark Overly as the new chairman. “Importantly, both appointments would have passed even without any votes from the promoter entity. Their appointments were ratified by an overwhelming majority of shareholders — 98.9 per cent and 99.4 per cent, respectively — clearly reflecting broad investor confidence,” the company said in an exchange filing.
The company’s explanation
Rani Kapur has had no role, direct or indirect, in Sona Comstar since at least 2019. She is neither a shareholder, director, nor officer of the company, it said. As such, she has no locus standi on any matter related to the company. Any insinuation that she was coerced into signing documents or that her consent is required for company affairs is completely baseless and legally untenable, the company said in an exchange filing.
“The promoter entity holds no executive roles and has no involvement in day-to-day management or strategic control of the company. Sona Comstar is not a family-owned business as alleged,” it said in the filing. “Sona Comstar is a publicly listed company with approximately 71.98 per cent of its shares held by institutional and public investors. The promoter entity holds a stake of 28.02 per cent and exercises no special rights or control. The assertion that the company is a family-run business is factually incorrect and misleading.”
What’s the company’s business?
Sona BLW Precision Forgings Ltd (Sona Comstar) is one of the world’s leading mobility technology companies. Founded by Surinder Kapur in 1995, Sona Comstar is headquartered in Gurugram, India. It is a global supplier with manufacturing and assembly facilities, R&D centres, and engineering capability centres across India, the US, Serbia, Mexico, and China. Sona Comstar designs, manufactures, and supplies highly engineered, mission-critical systems and components for mobility OEMs. It is a leading supplier of driveline and traction motor solutions to the fast-growing global electric vehicle (EV) market.
Sona Comstar reported a revenue of Rs 3,232 crore and a profit of Rs 580 crore for FY2025. It has a market capitalisation of Rs 27,877 crore as on August 21. The company’s share price has fallen from Rs 545 to around Rs 450 apiece in the last three months.
