Sona Comstar not informed who controls promoter family trust after Sunjay Kapur, CEO says
Trust -rk Family trust – is at the center of a successor and inheritance dispute within the supporting family. Sunjay Kapur’s wife and mother – Priya Sachdev Kapur and Rani Kapur – are likely to inherit and control the inheritance and control of the trust in Sona Comstar, which is almost worth. La8,000 crore.
RK Family Trust has 65% of Aureus Investment Private LTD, which controls 28% supporter shares in Comstar (Sona Blw Precision Forgings LTD). In 2019, RK Family Trust reported that Sonjay Kapur was the only utility of Soni Comstar, a private company at that time.
Vikram Singh, General Manager and Group CEO of the company, said that during an analyst, the dispute was limited to the supporting family to discuss the June-day results of the company during an analyst and had no effect on his performance. “There is an effect around it. [impact]”Singh said.
Promoter Company Aureus Investment, Singh calls Singh call to Son Comstar’s board of directors, and added that even this power is not even absolute. The Board may choose to reject the candidacy. Even if the Board approved it, he said that public shareholders should approve the candidacy.
“It is very strange to me how the appointment of a single director on a board of directors with six independent directors could have an impact on the execution of the company,” he said.
End Blw Precision Feshings LTD stock has lost about 15% since the sudden passing of the president on June 12th. 1.26% higher at BSE on Monday La442.8 S&P BSE automatic directory 1.54% gain.
After Kapur’s death, he nominated Aureus Investment Priya as a non -executive director of Comstar. The appointment was adopted by the company’s board and later by the shareholders at the annual meeting of 25 July. Priya was previously appointed as the General Manager of Aureus a week after Sunjay’s death.
Rani Kapur, who was not satisfied with the appointment of Priya to Aureus and Son Comstar boards, wrote by questioning the authority of those who approved the appointment of Priya to the second company on 24 July. He also claimed that he was preparing to sign certain documents while mourning and that he had no information about signed.
“I approached many times and forced to sign various documents without explanation, and even to have time to read and understand the same thing, ı he wrote in his letter. “Although it was under tremendous mental and emotional distress, I was forced to sign such documents behind the locked doors and if I demanded it over and over again, the content of such documents has never been explained to me.”
Lawyer Vaibhav Gaggar, appointed by Rani Kapur, refused to comment on the structure of the company and the delegation of trustees controlled by RK Family Trust. “There is a lot. He will begin to emerge. Mrs. Kapur talked about very suspicious things.” He said.
The company’s first quarter performance
Meanwhile, the rare earth magnet crisis and tariff war reduced Comstar’s profit and income in April-June quarter, but the appearance remained bull.
The company reported a consolidated profit La125 crore for the quarter, 12% less annually (Yoy). Income was 5% lower yoy La851 Crore.
The company’s business was influenced by various obstacles for a quarter, including the sudden restriction on exports of rare soil elements, which are very important for engine for electric vehicles, which are a key product for Son Comstar. Among the other winds were US tariffs, the key market for the North American company.
“FY26 was a challenging quarter for us because of the convergence of multiple negative factors that have already begun to dissolve.” He said.
The company ended the quarter with several major order winnings, which helped the net order book to reach the highest level of all time. La26,200 Crore. Comparative figure at the end of the previous quarter La24,200 crore. Earnings between order La1,550 CRORE order from a North American car manufacturer is the company’s largest order in 30 months.
