Rani Kapur has 'no locus standi on any matter' related to company: Sona Comstar

New Delhi, July 28 Sona BLW Precision Forgings Ltd (Sona Comstar) on Monday said that former Chairperson Rani Kapur, the mother of late Sunjay Kapur, has had no role, direct or indirect, in Sona Comstar since at least 2019 and has “no locus standi on any matter” related to the company.

In a latest stock exchange filing, the Haryana-based company said that she is neither a shareholder, director, nor officer of 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 added in its filing.

The company also cautioned against what it described as “irresponsible statements and misinformation” being circulated in the media, saying these are damaging to shareholder value.

“The continued dissemination of false narratives in the media to pursue personal legal agendas have resulted in erosion in shareholder’ value. With over 400,000 public shareholders, such actions are not only reckless but deeply harmful to the interests of the company. It is imperative that those responsible for this value destruction are held accountable,” the filing further read.

It further said that the re-appointment of Jeffrey Mark Overly for a second term as an Independent director and appointment of Priya Sachdev Kapur as Non-Executive director to the Board "were fully compliant with all applicable laws and corporate governance norms".

"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," said Sona Comstar.

Rani Kapur had written to the Board of Directors and Shareholders of Sona Comstar to refrain from the appointment of any Director(s) in the Company or any other Sona Group Company and further unconditionally defer the AGM, scheduled for Friday.

In her letter last week, Rani Kapur alleged she was coerced to sign some documents which are being misused to wrest control of the company and usurp the family legacy after her son's death. She stated that as per the ‘Will’ left behind by her late husband, Dr Surinder Kapur, the founder of Sona Comstar and the Sona Group, she is the majority shareholder in the company and thereby the only authority to represent the interests of the family in the company/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," the letter said.

Meanwhile, ever since the sudden demise of businessman and actress Karisma Kapoor's former husband, Sunjay Kapur, a lot of discussion has been going around Karisma and her children Kiaan and Samaira's share in his massive estate.

Setting the record straight once and for all, the sources close to the family have stated that Karisma has no involvement or stake in the property matters of her former husband. The sources further claimed that Karisma is in no way connected to any property. “She is not involved in any inheritance or property-related matters in any way," they added.

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