Rani Kapur has no locus standi on any matter related to company, says Sona BLW

Sona BLW Precision Forgings, the Delhi-based auto parts maker, on Monday, July 28, said that Rani Kapur, mother of late Sunjay Kapur, chairman and non-executive director of the company has no locus standi on any matter related to the Company.

"Rani Kapur has had no role, direct or indirect, in Sona Comstar since at least 2019. She is neither a shareholder, director, nor officer of the Company. As such, she has no locus standi on any matter related to the Company. Any insinuation that she was coerced into signing documents or that her consent is required for Company affairs is completely baseless and legally untenable," Sona Comstar said in a press release.

Last week, Rani Kapur had sought postponement of the annual general meeting (AGM) objecting the appointment of certain directors as representative of the Kapur family.

Rani Kapur, former chairperson of the Sona group and wife of former Chairman Surinder Kapur, in a letter dated July 24 to the board of Sona BLW Precision Forgings, alleged that while the family is in the mourning due to the sudden passing away of Sunjay last month, some people have chosen this an opportune time to wrest control and usurp the family legacy.

She also alleged that the death of her son in the UK last month was "highly suspicious and unexplained circumstances" and she has not given any consent or officially nominated any person to be on the board of Sona BLW Precision Forgings (Sona Comstar).

"I have been informed by well wishers that an AGM of shareholders has been kept wherein one of the items is the passing of a resolution to appoint certain directors in the company as being the representative of the Kapur family," she stated.

Unfortunately nothing has been told or explained, let alone discussed with regarding the same by the company or the people involved, she added. "Please postpone this AGM for at least two weeks to be held on a mutually convenient date, so that I may gather all necessary information," she said.

Meanwhile, shareholders of the company on Saturday approved the appointment of Priya Sachdev Kapur as a non-executive director with requisite majority.

The shareholders approved the appointment of Priya, wife of former chairman Sunjay Kapur, in the annual general meeting on July 25, Sona BLW Precision Forgings Ltd (Sona Comstar) said in a regulatory filing.

“Sona Comstar is governed by a professional management and an independent Board. Since the IPO in 2021, the promoter entity, M/s. Aureus Investments Private Ltd. has held only one non-executive Board seat. The current board of 9 members include two executive directors—both seasoned professionals with no affiliation to the Kapur family—and six independent directors with exemplary reputations and distinguished careers. The promoter entity holds no executive roles and has no involvement in dayto-day management or strategic control of the Company,” the company said in a statement.

“Sona Comstar is a publicly listed company with approximately 71.98% of its shareholding held by institutional and public investors. The promoter entity holds a stake of 28.02% and exercises no special rights or control. The assertion that the Company is a family-run business is factually incorrect and misleading,” it added.

Sona BLW shares ended 0.84% lower at ₹465 on Monday.