MC EXCLUSIVE Sun TV family truce? Maran brothers may have settled dispute after mediation by Tamil Nadu CM MK Stalin

A protracted feud between Kalanithi Maran, chairman of Sun TV Network, and his brother Dayanidhi Maran, a former Union Minister and DMK parliamentarian may be nearing a resolution.

Sources close to the matter said Tamil Nadu Chief Minister MK Stalin played a pivotal role in mediating the settlement, underscoring the political significance of resolving tensions within one of the state’s most powerful families.

Two people familiar with the development said a meeting between the Maran brothers was held in the presence of Tamil Nadu CM MK Stalin (a cousin of the Marans), and his son, Tamil Nadu Deputy Chief Minister Udayanidhi Stalin. Moneycontrol learns that Marans’ sister Anbukarasi was also part of the meeting.

MK Stalin is the son of the late M Karunanidhi, DMK patriarch and former Chief Minister of Tamil Nadu. The Maran brothers—Kalanithi Maran and Dayanidhi Maran—are related to the Karunanidhi family through their father, Murasoli Maran, who was Karunanidhi’s nephew.

The contours of the settlement are not clear at the moment: whether it involves a monetary agreement or a division of business to bring about reconciliation remains uncertain. Moneycontrol has sent queries to Kalanithi Maran, Dayanidhi Maran and also to Sun TV network.

Maran vs Maran

The peace deal comes weeks after Moneycontrol first reported on the fight between the siblings on 19th June 2025. Dayanidhi Maran had levelled grave allegations against his billionaire brother and Sun TV chairman Kalanithi Maran in a legal notice. While Sun TV shares came under pressure, the company clarified that this is a family matter that won't impact the company.

The strongly worded legal notice, sent on 10th June, 2025, threatened to initiate civil, criminal, regulatory and enforcement proceedings against Sun TV chairman Kalanithi Maran and seven other respondents, unless they restore the shareholding of the media company to its original state in 2003.

The notice alleged that Kalanithi Maran, chairman of the media conglomerate Sun TV and Dayanidhi’s billionaire brother, engaged in fraudulent practices including cheating and money laundering. It demanded the restoration of the company’s shareholding to the original structure established in 2003, invoking the legacy of their late father, SN Maran (better known as Murasoli Maran) and MK Dayalu, wife of former Tamil Nadu Chief Minister M Karunanidhi and mother of its incumbent CM, MK Stalin.

The notice dated 10th June, 2025, had been served to Kalanithi Maran and seven other respondents, including his wife, Kaveri Maran.

“In order to take over the entire company and its assets for the personal benefit of No.1 & 2 of you, (Kalanithi and Kaveri Maran) No.1 of you orchestrated a deceptive and devious plan in active conspiracy with No.2 to 8 of you. As part of executing your premeditated fraudulent scheme, taking advantage of the family's situation, especially when my client’s father’s health was critically ill, that he could pass away at any moment and the entire family was concerned about his deteriorating health, No.1 of you and No.2 of you commenced your first illegal activity in September 2003,” the notice begins, referring to the ill health and subsequent death of their father, Murasoli Maran, who is the nephew of M Karunanidhi.

The notice alleged that after their father died in 2003, shares were transferred to the mother Mallika Maran without proper legal documents like a death certificate or legal heir certificate, which were issued only days or months later. This transfer was done to allegedly help move shares later to Kalanithi Maran.

The notice alleges that Kalanithi allotted 12 lakh equity shares for himself at Rs 10 each on 15th September, 2003, an “illegal act of criminal breach of trust and cheating.” This when, the value of shares then was between Rs 2500-Rs 3000.

“In other words, No.1 of you (Kalanithi) allotted 60% of the shares of M/s.SUN TV Private Limited without any consultation or approval from the existing majority/promoter original shareholders at face value of Rs 10/- each,” the notice alleges.

At that time, the company was financially strong and did not need to raise money, so there was no reason to issue these shares, the notice alleged.

Before this, Kalanithi did not own any shares, but after this move, he became the majority owner, reducing the original families’ shares from 50% each to just 20%, per the notice.

Kalanithi Maran currently owns 75 percent in the listed Sun TV network and is one of India’s richest businessmen, with a net worth of $2.9 Billion dollars.

The notice further alleged that shares were transferred illegally and undervalued to cheat other family members and shareholders, reducing the family ownership from 50% to nothing, while Kalanithi ended up ended up controlling over 75% of the company without investing his own money. The notice claims that Dayanidhi Maran will seek a government investigation by the Serious Fraud Investigation Office (SFIO), as these actions are serious crimes under company and criminal laws, including money laundering.

“The difference amount between the alleged payment of Rs 1.2 crore towards allotment of 12,00,000 equity shares and the actual approximate value of 12,00,000 equity shares to the tune of Rs 3,500 crore at the relevant time is nothing but proceeds of crime and all of you are possessing the said differential amount of Rs.3498.8 crores projecting the same as untainted one and hence all of you are continuously committing an act of Money laundering,” the notice alleges, adding that Kalanithi has also derived benefits by way of dividends to the tune of Rs 5,926 crore in 2023 and Rs 455 crore in 2024 alone.

Misleading investors

The notice also raked up a previous dispute between the Karunanidhi and Maran families, where the members of the former accused the latter of short-changing them by buying out MK Dayalu’s stake in Sun TV for 100 crores, when the company was valued much higher after its IPO. It further alleges that Sun TV misled its stakeholders in its Red Herring Prospectus ahead of IPO.

“It is also worthwhile to mention that you have informed in the Red Herring Prospectus of M/s.SUN TV Limited that a sum of Rs. 10.64 crores had been paid by way of dividend to Mallika Maran as on 31-12-2005. However, no such amount has been paid to her by way of dividends in the year 2005. Therefore, you have falsely declared information in the Red Herring Prospectus, thereby deceiving the general public”, it alleges.

It further alleged that “these proceeds of crime have been utilized to further enrich yourself by acquisition of valuable assets / companies, such as Sun Direct TV Pvt Ltd, Kal Radios Pvt Ltd, Kal Airways Pvt Ltd,Kal Publications pvt ltd, Sunrisers Hyderabad, South Asian FM, Sun Pictures, A Cricket Team in South Africa, a cricket team in United Kingdom and SpiceJet, and other downstream investments.

The notice demanded that Kalanithi restore the entire shareholding position of SUN TV Network Limited and all other related companies to their original state as it stood on September 15, 2003, by reinstating the shares to the rightful owners, namely MK Dayalu and the legal heirs of Late S.N. Maran.

Further, that he and his wife Kaveri Kalanithi are directed to return, without delay, the entirety of the monetary benefits, dividends, assets, and all forms of income unlawfully received or appropriated by them from the year 2003 till date, to MK Dayalu and the legal heirs of SN Maran.

If these are not complied with, all appropriate civil, criminal, regulatory, and enforcement proceedings against him and his associates may be initiated.

Money to smoke peace pipe?

Dayanidhi Maran further alleged that an earlier notice sent on October 7, 2024 elicited a vague reply, subsequent to which Kalanithi allegedly paid his other sibling Ms Anbukarasi, 500 crore towards part of a settlement.

It is not clear how many of these demands Mr Kalanithi Maran has finally acceded to and also if this involved a monetary compensation, similar to what he had paid his sister Anbukarasi.