Rani Kapur not a shareholder of Sona Comstar; AGM done after legal vetting: Sona Comstar

New Delhi [India], July 25 (ANI): Based on legal consultations and the fact that Rani Kapur is not a shareholder of Sona Comstar, the company concluded that it could not defer the Annual General Meeting (AGM).
The Board, in its meeting held on June 23, 2025, approved convening the AGM on July 25, 2025, to consider the Annual Financial Statements and other regular business matters.
The AGM notice was issued to all shareholders on July 1, 2025, in accordance with regulatory requirements, the company informed stock exchanges on Friday.
Late on July 24, 2025, Thursday, an email was received from Rani Kapur, requesting a deferment of the AGM, the company statement said.
Rani Kapur, through the letter, had urged that the Annual General Meeting (AGM) of Sona Group, scheduled for today, be cancelled.
"Given our respect for Mrs. Kapur, the Company sought urgent legal advice from one of India's most reputed law firms in relation to the legality of proceeding with the AGM of the Company. Based on the legal counsel and the fact that Mrs. Kapur is not a shareholder of the Company, the Company concluded that it could not defer the AGM," the company said in its statement.
"For clarity, 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," the company added.
Today, the AGM was conducted on schedule, in full compliance with applicable laws and regulatory frameworks.
Sona Comstar is a public limited company listed on Indian stock exchanges since June 2021, with 71.98 per cent public shareholding and 28.02 per cent held by its corporate promoter, M/s Aureus Investments Private Limited (AIPL).
Following the tragic and untimely passing of Sunjay Kapur on June 12, 2025, the Board of Directors appointed unanimously Jeffery Mark Overly as Chairman on June 23, 2025.
"In May 2019, the Company received a declaration of significant beneficial ownership identifying Sunjay Kapur as the sole beneficial owner of RK Family Trust, a significant shareholder of AIPL," Sona Comstar statement read.
"As per Company records, Mrs. Rani Kapur has not been a shareholder of the Company at least since 2019. Mrs. Priya Sachdev Kapur was appointed as a Non-Executive Director based on a nomination received from M/s Aureus Investments Private Limited. Her appointment was duly reviewed by the Board's Nomination and Remuneration Committee and approved by the Board of Directors of the Company," it added.
Sona Comstar concluded the statement saying it remains committed to the highest standards of corporate governance and transparency. (ANI)