New Delhi: In a dramatic turn of events ahead of Sona BLW Precision Forgings Ltd’s Annual General Meeting (AGM), Rani Kapur, mother of the late Sona Comstar chairperson Sunjay Kapur, has alleged that her son’s death was “sudden and suspicious” and that he was coerced into signing critical documents prior to his demise.
In a strongly worded letter addressed to the company’s board and shareholders, Rani Kapur demanded a deferment of the company’s AGM scheduled for July 25, citing concerns over misrepresentation, undue influence, and corporate governance lapses. “The circumstances of my son’s death are not as straightforward as they have been portrayed. There are clear signs of coercion and pressure leading up to his final days,” the letter read.
Sunjay Kapur, 53, passed away on June 12 while playing polo in the UK. The company had attributed the cause of death to cardiac arrest. However, Rani Kapur has contested this version, saying her son was wrongly declared to have suffered a heart attack and describing the incident as far from a “freak accident.”
She also raised alarm over the conduct of certain individuals close to the company and questioned the legitimacy of decisions taken post her son’s demise. “Key company documents were signed under coercion,” she wrote, hinting at alleged manipulation of succession plans and shareholding patterns.
Despite her appeal, Sona Comstar went ahead with its AGM as scheduled. The board appointed Jeffrey Mark Overly as the new non-executive chairman, while CEO Vivek Vikram Singh continues to lead the company’s operations. Sunjay’s wife, Priya Sachdev Kapur, who was recently inducted into the board, did not publicly respond to the allegations.
The public fallout appears to have rattled investor sentiment, with shares of Sona Comstar falling nearly 3% in intraday trade, touching ₹476.70 on the BSE.
The developments have cast a spotlight on corporate governance practices at family-controlled firms, particularly during leadership transitions. Rani Kapur’s intervention has prompted calls for an independent inquiry into the circumstances surrounding Sunjay Kapur’s death, as well as the validity of boardroom decisions taken during the turbulent period.
While the company has yet to respond officially to the allegations, industry observers expect legal scrutiny and shareholder activism to intensify in the coming weeks.
