Shares of Sona BLW Precision Forgings Ltd gained 1.93% to close at ₹454.10 on Wednesday, as investors closely watched developments in the high-profile inheritance dispute over late businessman Sunjay Kapur's estimated ₹10,000 crore estate.

Legal Battle Unfolds in Delhi High Court

The Delhi High Court is currently hearing a complex three-way legal battle involving Sunjay Kapur's widow Priya Kapur, his mother Rani Kapur, and the children of his ex-wife Karisma Kapoor. The case has brought attention to the substantial assets of the Kapur family, including their stake in Sona BLW Precision Forgings, also known as Sona Comstar.

Key Allegations and Claims

Rani Kapur's Allegations

• Rani Kapur has alleged suspicious transactions involving ₹500 crore worth of Sona Comstar assets.
• She claims these assets were sold to Singapore-based entities.
• Rani Kapur states she has been left with nothing from her son's estate.

Karisma Kapoor's Children's Demands

• The children of Sunjay Kapur's ex-wife, Karisma Kapoor, are seeking one-fifth of the assets for each child.
• They allege that Sunjay Kapur's will is forged.

Priya Kapur's Statement

• Priya Kapur, Sunjay Kapur's widow, contends that Karisma Kapoor's children have already received ₹1,900 crore from the family trust.

Court Directives

The Delhi High Court has taken decisive action in this high-stakes dispute:

1. Priya Kapur has been directed to disclose all of Sunjay Kapur's known assets.
2. She is required to submit a reply within three weeks.
3. The next hearing is scheduled for October 9.

Market Response

The ongoing legal battle and its potential implications for Sona BLW Precision Forgings' ownership structure appear to have caught investors' attention. The company's stock price movement suggests that market participants are closely monitoring the situation, although the full impact of the dispute on the company's operations and future remains to be seen.

As the case unfolds, stakeholders and investors will likely continue to watch for any developments that could affect the company's governance or ownership structure. The outcome of this high-profile inheritance dispute could have significant implications for one of India's prominent auto component manufacturers.

Sona BLW Precision Forgings , a key player in the precision forging industry, has announced significant changes in its board composition and dividend payout. The company recently held its 27th Annual General Meeting, marking a transition in its leadership structure and financial distribution to shareholders.

Board Changes

Ganesh Mani, who served as a Non-Executive and Nominee Director on the board of Sona BLW Precision Forgings, has retired from his position. His retirement took effect on July 19, 2023, following the conclusion of the company's 27th Annual General Meeting.

Mani's departure comes as part of the standard rotation process, as he was liable to retire by rotation. While eligible for re-appointment, Mani chose not to seek another term, citing pre-occupation as the reason for his decision. This move signals a shift in the company's board dynamics.

Dividend Announcement

Sona BLW Precision Forgings has recommended a final dividend for the financial year 2022-23. The company's board has proposed a dividend of Rs. 1.53 per equity share.

For shareholders looking to benefit from this dividend payout, the company has set the record date as June 30, 2023. This date is crucial for determining the eligibility of shareholders to receive the dividend.

The announcement of this dividend, coupled with the changes in the board composition, reflects the company's ongoing efforts to balance corporate governance, leadership transition, and shareholder returns.