Rani Kapur not a shareholder, cannot call for AGM deferment: Sona Comstar

Auto component manufacturer Sona Comstar stated on Friday that Rani Kapur, the mother of the late Sunjay Kapur, who served as chairman until his death on June 12, has not been a shareholder of the company since at least 2019, and confirmed that no documents were signed or obtained from her following Sunjay Kapur’s passing.

“In May 2019, the company received a declaration of significant beneficial ownership identifying Sunjay Kapur as the sole beneficial owner of RK Family Trust, a significant shareholder of AIPL. As per company records, Rani Kapur has not been a shareholder of the company since at least 2019,” reads a statement from the company. Aureus Investments Private Limited, or AIPL, is the corporate promoter which holds a 28.02% stake in the company. Priya Sachdev Kapur, the widow of Sunjay Kapur, was appointed as a non-executive director based on a nomination received from AIPL.

Sona Comstar’s rejoinder follows the revelation that Rani Kapur wrote to the board, seeking the immediate deferment of the company’s annual general meeting (AGM), scheduled for July 25. She alleged that the meeting was taking place at a difficult time for the family, which was plunged into bereavement following the sudden demise of Sunjay Kapur.

The company confirmed that it had received an email from Rani Kapur, which exhorted the board to defer the AGM. “Given our respect for Mrs. Kapur, the Company sought urgent legal advice from one of India’s most reputed law firms concerning the legality of proceeding with the AGM of the company. Based on the legal counsel and the fact that Mrs. Kapur is not a shareholder of the company, the company concluded that it could not defer the AGM,” the statement added.

The AGM—which was called to consider the annual financial statements and other regular business matters—was conducted on schedule, the company said. 

In an emotional letter to the board, Rani Kapur claimed that she is the sole beneficiary of her late husband, Surinder Kapur’s, estate, which includes Sona Comstar. “As you are aware, on 12.06.2025, my son, Mr. Sunjay Kapur, tragically passed away under highly suspicious and unexplained circumstances in the United Kingdom. Despite my seeking information, I have been unable to receive any relevant answers and documents explaining the incident and have been confined to the knowledge and version set out by the media,” reads the letter.

Kapur has also alleged that despite her being under immense mental and emotional distress, she was “compelled” to sign various documents without offering any explanation or giving her some time to read the content of the papers. “I was coerced into signing such documents behind locked doors, and though I’ve repeatedly requested it, the contents of such documents have never been revealed to me. Please also note that I have been denied access to my accounts and have been left to the mercy of a select few for my survival. All this, in less than a month of my only son passing away,” the letter adds.

However, the company clarified that Rani Kapur was not made to sign any documents. “For clarity, the company confirms that no documents have been signed or obtained from Mrs. Rani Kapur by the company following the passing of Mr. Sunjay Kapur,” it said.

Furthermore, Kapur also alleged that some individuals are taking undue advantage of the family’s mourning period by attempting to seize control of the company, thereby usurping the family’s legacy. Several resolutions, according to Kapur, including appointing a director representing the Kapur family—which will be put to a vote during the AGM—without the family’s consent.

“I’ve been informed that certain people are representing themselves as being the largest shareholders of the Company since they claim to represent the interests of the family in the Company. I am fully convinced that the documents which I executed under coercion and duress, post the demise of my son, at a time of mental and emotional vulnerability, are being misused,” the letter reads. However, according to Sona Comstar, the appointments to the board—and the AGM—were conducted in full compliance with applicable laws and regulatory frameworks.

Rani Kapur has also alleged that she has not consented to any individual to represent her before the company. “If the Board and the shareholders however choose to ignore this letter, which I am writing in my capacity of not just being the grieving mother of Sunjay Kapur, but also the head of the Kapur family and the largest shareholder of the company, it would be a clear case of mismanagement and breach of trust by the company,” she added.

Advocate Vaibhav Gaggar, the lawyer representing Rani Kapur, said that a few events which transpired after the death of Sunjay Kapur have created consternation and apprehension in her mind. “There is a lot that is happening currently. She wants to get to the bottom of the matter, and she is yet to know the exact cause of death. It did not seem to be a natural death at all,” he said, quoted by ANI. However, Gaggar said that she has not filed any litigation, but is exhorting the board not to proceed hastily. “As the head of the family, she wants to resolve things at the earliest.”