Sunjay Kapur’s ₹300 billion legacy: Who controls Sona Comstar now?

A succession row has rocked Sona BLW Precision Forgings Ltd (Sona Comstar), one of India’s leading auto component manufacturers, after the sudden death of its chairman, Sunjay Kapur, in London on June 12.

In a sharply worded letter, Sunjay’s mother Rani Kapur accused unnamed company insiders of coercion and attempting to "usurp the family legacy" of the ₹30,000 crore (₹300 billion / approx. $3.6 billion) group while she mourned her son’s passing. 

The company proceeded with its Annual General Meeting (AGM) on July 25, rejecting Rani’s plea to delay the process.

Among the key outcomes:

Priya’s nomination was proposed by Aureus Investments Pvt Ltd, a corporate promoter holding a 28.02% stake in the company.

Sona Comstar, in a regulatory filing, rejected Rani Kapur’s claims, stating she has not held shares since 2019. It clarified that no documents had been signed or obtained from her post Sunjay’s death and asserted the AGM complied with all legal and regulatory protocols.

“Her request to postpone the AGM had no legal standing,” the company said.

In her July 24 letter to the board and shareholders, Rani Kapur, widow of company founder Dr Surinder Kapur, alleged she was pressured into signing undisclosed documents during her time of grief.

“Despite being under immense emotional distress, I was coerced behind locked doors,” she wrote, criticising the AGM’s timing as “insensitive” and claiming she is the rightful majority stakeholder via her late husband’s will.

She also disputed the legitimacy of current board members claiming to represent the family. 

Adding a dramatic turn, Rani described her son’s death during a polo match in England as “sudden and suspicious”, and called for a formal investigation into governance practices. She has reached out to SEBI and shareholders, urging greater transparency and a pause on board decisions.

Rani maintains she never authorised anyone to speak for the family. However, internal records show Sunjay Kapur was the sole beneficiary of the RK Family Trust, a major stakeholder in Aureus Investments — strengthening Priya’s legal standing on the board unless disputed through trust litigation. 

At the AGM, shareholders also approved:

Sona Comstar’s stock has plunged over 36% from its 52-week high of ₹768.65. Analysts cite concerns over leadership instability and shareholder uncertainty as key factors weighing on investor sentiment.

Sunjay Kapur, Chairman and Non-Executive Director of Sona Comstar, died suddenly of a heart attack during a polo match in Windsor, UK. A well-respected industry figure, he also served as President of ACMA, Co-Chair of the CII Manufacturing Council, and was a board member at The Doon School.

Sona Comstar announced key board appointments:

Jeffrey Mark Overly was named the new Chairperson of the Board.

Priya Sachdev Kapur, Sunjay’s widow, was appointed as an Additional Non-Executive Director.

Priya was also named Chairperson of the Corporate Social Responsibility Committee and a member of the ESG Committee. All appointments were stated to be subject to shareholder approval.

The company issued a notice for its 29th AGM, scheduled for July 25, with the agenda including the formal appointment of Priya Sachdev Kapur.

Hours before the AGM, Rani Kapur submitted a formal request to postpone the meeting by two weeks. In her letter to the board, she alleged coercion, misrepresentation, and exclusion during the family’s mourning period.

Despite the objections, Sona Comstar proceeded with the AGM as planned. The outcomes of the meeting — including shareholder decisions — are expected to be released shortly via official stock exchange disclosures.