Shares of Sun TV Network Ltd fell 3.5% on 20th June after touching a day’s high of Rs 604, amid reports of a legal feud between the Maran brothers — DMK MP Dayanidhi Maran and Sun TV owner and billionaire businessman Kalanithi Maran.

On 10th June, Dayanidhi Maran reportedly sent a legal notice to his brother, Kalanithi Maran, threatening to initiate civil, criminal, regulatory, and enforcement proceedings unless Sun TV’s shareholding is restored to its original structure as of 2003. The notice names seven other respondents in addition to Kalanithi and follows a previous notice sent in October 2024.

The notice accuses Kalanithi Maran of “fraudulent practices,” including allegations of “cheating and money laundering.”

As of the March quarter, Kalanithi Maran, who currently acts as the promoter of Sun TV, holds a 75% stake in the company—valued at around Rs 18,000 crore based on current market prices.

Among the public shareholders of Sun TV are several domestic mutual funds, collectively holding a 9.74% stake. Notable names include Kotak Equity Opportunities Fund (2.2%), Quant Active Fund (4.7%), and ICICI Prudential Exports and Services Fund (1.95%).

At 10:17 AM, the shares of Sun TV were trading 3.42% lower at Rs 591.20 at NSE.

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