Sona BLW Precision Forgings holds its annual meeting, stating that Rani Kapur has not been a shareholder since 2019.
In a dramatic turn of events, the Annual General Meeting (AGM) of Sona BLW Precision Forgings (Sona Comstar) was held on July 25, 2025, amidst objections from Rani Kapur, a representative of the Kapur family. The company proceeded with the AGM in full compliance with applicable laws, following legal advice, as Rani Kapur was not a shareholder of the company [1][3][4].
Rani Kapur, widow of former chairman Surinder Kapur and mother of the late Sunjay Kapur (who passed away under suspicious circumstances in June 2025), strongly objected to the timing of the AGM. She requested a deferment by at least two weeks due to the period of mourning and raised concerns about the legitimacy of certain director appointments, specifically opposing the appointment of Priya Sachdev Kapur (wife of late Sunjay Kapur) as a Non-Executive Director [2][3][4].
However, the company rejected her request on July 24, 2025, after urgent consultations with legal counsel. The AGM went ahead with the agenda, including the approval of key appointments, in particular Priya Sachdev Kapur’s appointment, as announced in the company’s official notice [1][2][4].
Rani Kapur, who claims to be the sole beneficiary of her late husband's estate and a majority shareholder of the Sona Group including Sona Comstar, stated that she had not been informed or discussed about the AGM or the appointment of directors [4]. She also alleged denial of access to financial records and claimed she had not consented to or nominated anyone to represent the family on the board [2][3][4].
The company, a public limited company listed on Indian stock exchanges since June 2021, with 71.98% public shareholding and 28.02% held by M/s Aureus Investments Private Ltd (AIPL), sought legal advice from a reputed Indian law firm regarding the legality of proceeding with the AGM. The request for a deferment of the AGM was received via email on July 24, 2025 [1][3].
Jeffery Mark Overly was appointed as Chairman of Sona Comstar following the tragic and untimely passing of Sunjay Kapur on June 12, 2025 [5]. Rani Kapur was appointed as a Non-Executive Director based on a nomination received from AIPL prior to her late husband's death [1]. It is important to note that Rani Kapur has not been a shareholder of the company at least since 2019 [2].
Sona Comstar remains committed to the highest standards of corporate governance and transparency. The company continues to engage with all stakeholders, including the Kapur family, to ensure a smooth transition and maintain the integrity of its operations.
References: [1] The Economic Times, "Sona Comstar holds AGM despite Rani Kapur's objections", July 25, 2025. [2] Business Standard, "Rani Kapur objects to Sona Comstar AGM, alleges denial of access to financial records", July 25, 2025. [3] LiveMint, "Sona Comstar proceeds with AGM despite Rani Kapur's request for deferment", July 25, 2025. [4] The Hindu BusinessLine, "Rani Kapur opposes Sona Comstar AGM, alleges lack of consent for appointments", July 25, 2025. [5] The Times of India, "Sona Comstar appoints Jeffery Mark Overly as Chairman following Sunjay Kapur's demise", June 15, 2025.
- Rani Kapur, despite not being a shareholder of the company since 2019, expressed her concern about the appointment of Priya Sachdev Kapur as a Non-Executive Director at the AGM, citing a lack of consent and access to financial records.
- In the wake of Rani Kapur's objections, Sona Comstar, a public limited company with significant public shareholding and a portion held by M/s Aureus Investments Private Ltd, sought legal advice to address concerns about the legitimacy of their AGM and key appointments, including that of Priya Sachdev Kapur.
- Despite Rani Kapur's claims as the sole beneficiary of the Sona Group, including Sona Comstar, and her request for a deferment of the AGM, the company proceeded with the meeting in full compliance with applicable laws, following legal advice, as she was not a shareholder of the company.
