Sona Comstar rejects Rani Kapur

• ET Online

• Updated On Jul 25, 2025 at 07:14 PM IST

New Delhi: Sona BLW Precision Forgings Ltd (Sona Comstar), a listed auto components manufacturer, has defended its decision to proceed with its 29th Annual General Meeting (AGM) on July 25, 2025, despite a last-minute request for deferment from Rani Kapur, widow of founder Dr Surinder Kapur and mother of the late chairman Sunjay Kapur.

The company said it received an email from Rani Kapur on July 24 seeking a postponement of the AGM, citing emotional distress and lack of clarity over governance decisions taken after her son’s sudden death on 12 June. However, based on legal advice and corporate records, the Board proceeded with the meeting as scheduled.

Sona Comstar clarified that Rani Kapur is not a shareholder in the company and has not held any equity stake since at least 2019. The company is 71.98 per cent publicly held, while 28.02 per cent of shares are held by its corporate promoter, Aureus Investments Private Limited (AIPL).

Rejects allegation of coercion

Following the demise of Sunjay Kapur, the Board unanimously appointed Jeffery Mark Overly as Chairman on June 23, 2025. Additionally, Priya Sachdev Kapur, Sunjay’s wife, was appointed as a Non-Executive Director based on AIPL’s nomination. The company said her appointment was reviewed and cleared by the Nomination and Remuneration Committee and approved by the Board.The company also rejected allegations of coercion made by Kapur, who had claimed that she was made to sign documents without proper explanation after her son’s death. “The Company confirms that no documents have been signed or obtained from Mrs Rani Kapur by the Company following the passing of Mr Sunjay Kapur,” it said.

Sona Comstar stated that the AGM was conducted in line with all legal and regulatory requirements and emphasised its continued commitment to corporate governance.

The developments come amid heightened scrutiny over leadership succession and internal governance at the company, which was founded by the Kapur family and is now one of India’s key auto component suppliers.

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