Overview
- Sun TV announced that all legal notices issued by DMK MP Dayanidhi Maran against promoter Kalanithi Maran and others have been unconditionally and irrevocably withdrawn.
- The company said the withdrawal pertains solely to a personal family matter and does not affect its day-to-day operations or management.
- Terms of the private settlement remain undisclosed despite earlier reports of politically mediated talks led by Tamil Nadu Chief Minister M.K. Stalin.
- The dispute stemmed from Dayanidhi’s June demand to restore Sun TV’s 2003 shareholding structure, citing allegations of fraudulent transfers, cheating and money laundering.
- Shares of Sun TV rose more than 5% intraday on August 11 following the announcement of the notice withdrawal and dispute resolution.