Auto components manufacturer Sona BLW Precision Forgings Ltd (Sona Comstar) on July 25 (Friday), issued a formal statement addressing allegations made by Rani Kapur, former Chairperson and wife of the company’s founder Surinder Kapur, regarding decisions taken after the death of her son and the company’s former chairman, Sunjay Kapur.
According to its market filing, responding to Rani Kapur’s request to defer the company’s Annual General Meeting (AGM), Sona Comstar said that “Mrs Rani Kapur has not been a shareholder of the company at least since 2019,” and therefore her request held no legal standing. The company added that “no documents were signed or obtained from her” following Sunjay Kapur’s passing on June 12 during a polo match in England.
“The AGM was conducted as scheduled,” the company said, citing legal counsel and regulatory obligations. It further clarified that Priya Sachdev Kapur, Sunjay’s wife, was appointed as an Additional Non-Executive Director based on a nomination from Aureus Investments Pvt Ltd, the company’s corporate promoter, which holds 28.02% stake. The remainder of the company (71.98%) is publicly held. The appointment, it added, was vetted by the Nomination and Remuneration Committee.
The company’s statement came after Rani Kapur alleged that she had been coerced into signing documents while under emotional distress and had been denied access to her financial accounts. While she did not name specific individuals, NDTV reported that her remarks were believed to refer to Priya Sachdev Kapur.
Rani Kapur further claimed that she was the majority shareholder of the Sona Group to which the company said in May 2019 a "declaration of significant beneficial ownership" was received that identified Sunjay Kapur as the "sole beneficial owner..,” adding, she had "not been a shareholder since 2019".
On the appointment of Priya Sachdev Kapur as a non-executive director, the filing said her name had been proposed and her appointment "duly reviewed and approved".
Also, on Rani Kapur’s claim about being "forced to sign documents behind locked doors", the company said that no documents were signed or obtained from her following Sunjay Kapur’s passing.
Who is Priya Sachdev Kapur
Priya Sachdev Kapur is a businesswoman and investment professional currently serving as a non-executive director at Sona Comstar and director at Aureus Investment Pvt Ltd. Her association with the Kapur family businesses stems from her marriage to Sunjay Kapur in 2017.
Born in Delhi to automobile dealer Ashok Sachdev, Priya holds a degree in mathematics and business management from University College London (UCL) and also studied briefly at UCLA. She began her career in mergers and acquisitions at Credit Suisse First Boston in London, before returning to India to lead ventures in automotive retail, insurance, fashion, and e-commerce.
She founded TSG International Marketing Pvt. Ltd. and co-founded Rock N Shop, an early luxury e-commerce venture in India. She is also associated with Aureus Polo, a team started by her late husband.
Priya was previously married to American hotelier Vikram Chatwal. That marriage ended in divorce in 2011 after a prolonged custody battle. With Sunjay, she had a son named Azarias. Her connection to the business empire has come under increased scrutiny following the recent allegations and her elevation to the board.
As the legal and familial issues continue to unfold over control of the Rs 30,000-crore business empire, the governance and future leadership of Sona Comstar remain in focus.
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