The notification claims important reputation and financial damage exclusively as a result of its communication, Rani has also asked to withdraw its letter of 24 July to the board of the company, shareholders and various other stakeholders within 24 hours. Failure to comply with within 3 days after receipt of the notification can lead to civil or criminal actions against her and any other person involved in her has warned the notification.
“Freely refusing” all the allegations of it at the end of last week, with regard to malice management and coercion, the company claimed that the allegations were “rogue, false, unjustified and not corrected.”
Legal sources close to Rani Kapur confirmed that they received the company’s notification through the DSK Legal law firm. They said that she is also busy submitting an answer in due course after discussing her legal advice. “The way things are looking, including blocking all Rani information and bank accounts, she has no option to move the National Company Law Tribunal.”
On Thursday, Rani had searched for the postponement of the annual general meeting of the company (AVA), while she claimed that she was ‘hassle’ to sign documents behind closed doors when they mourn, and that some people tried to appropriate the inheritance of Kapur family. The company continued with the AVA, after it had obtained legal advice, claimed that Rani was not a shareholder of the company and therefore had no legal basis for requesting a delay.
Sunjay Kapur died at the age of 53 on June 12 after a heart attack in the UK while he played Polo. On Monday the company increased the Ante by sending the notification to Rani and also sent a copy to the stock market regulator, Sebi, the sources mentioned above. That was, there was a motive to cause damage to the company and illegal interference. Rani, the letter repeated, is not a shareholder and does not play a role in the activities. Nor has she had a management, executive or fiduciary role in the company, at least since 2019.
Harping of the fact that the company turned its activities after the death of founder Surinder Kapur, largely because of his ‘professionally managed business activities’.
Currently, 71.98% of the company are held through public shareholders, including institutional shareholders such as banks, investment funds, financial institutions and FIIs. 28.02% of the company is held by the promoters via Aureus Investments PVT Limited (AIPL)
After the sudden death of Sunjay, the company, according to her notification, held full transparency and made the required public disclosures, a new chairman and held an AGM. Sunjay’s wife Priya Sachdev was appointed unusual director of the council based on a nomination received from AIPL. Her appointment was also ratified by shareholders on Friday’s AVA. The results of all board meetings have also been informed of the regulatory authorities and are publicly available. The company has therefore described its actions as ‘regrettable’.
Shares of Sona BLW have risen almost 3 percent in the last five sessions.
The company also issued a public statement on Monday evening to ‘protect’ the interests of the shareholders of the shareholders in the middle of the persistent struggle about family representation in the board, so that Rani has ‘no locus standi’ about any issue related to the company.
Although Waste claims that Sona is a family business, the statement said that the Aureus Investments Aureus promoter has no special rights or control and is represented by only one non-executive administration since the public issue of the company. The six independent directors and two executive drivers currently on board are not related to the family.
“The current council of 9 members include two executive directors-to-experienced professionals without a connection with the Kapur-and’s family and six independent directors with an exemplary reputation and leading careers. The promotion entity does not hold executive roles and has no involvement in daily management or strategic control of the company,” said the statement.
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