Sunrisers Hyderabad owners allegedly involved in Huge money laundering scam; IPL future at stake?
Published - 20 Jun 2025, 11:52 AM | Updated - 20 Jun 2025, 02:18 PM
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Former Union Minister and Dravida Munnetra Kazhagam (DMK) MP Dayanidhi Maran has dragged his brother, Kalanithi Maran, the chairman of Sun TV Network—the owner of the IPL team Sunrisers Hyderabad (SRH), into a legal battle over a bitter dispute involving control and ownership of the multi-billion-rupee media giant.
Dayanidhi Maran made the allegations of cheating, fraud, and financial misconduct against his brother Kalanithi Maran, father of the Sunrisers Hyderabad (SRH) CEO Kavya Maran.
Dayanidhi has accused Kalanithi of orchestrating a calculated plan to seize complete control of the company by manipulating internal shareholding arrangements over two decades ago.
Sunrisers Hyderabad (SRH) owner faces explosive allegations from brother Dayanidhi Maran
The former Union Minister claimed that his brother took control of the power when their father, the late Murasoli Maran, was gravely ill and the family was at its most vulnerable. The legal notice has been served not only to Kalanithi but also to seven others, including his wife, Kaveri Maran.
The notice, which was issued through Law Dharma, a Chennai-based legal research firm, on June 10, alleges that Kalanithi Maran engaged in “fraudulent practices,” including “cheating and money laundering."
The notice demands a complete reversal of the shareholding structure and a return to what was originally agreed upon in 2003 when everything was finalized under the watch of political heavyweight Murasoli Maran and MK Dayalu, wife of former Tamil Nadu Chief Minister M. Karunanidhi.
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Dayanidhi Maran demands Sun TV shares back, alleges Kalanithi looted crores
As reported by Moneycontrol, the notice reads, “In order to take over the entire company and its assets for the personal benefit of No. 1 & 2 of you (Kalanithi and Kaveri Maran), No. 1 of you orchestrated a deceptive and devious plan in active conspiracy with No. 2 to 8 of you.
As part of executing your premeditated fraudulent scheme, taking advantage of the family's situation, especially when my client’s father’s health was critical and he could pass away at any moment and the entire family was concerned about his deteriorating health, No. 1 and No. 2 of you commenced your first illegal activity in September 2003.”
Meanwhile, a legal notice sent by Dayanidhi Maran accuses his brother Kalanithi Maran of illegally gaining majority control of Sun TV after their father’s death in 2003. It claims Kalanithi allotted 12 lakh shares to himself at just ₹10 each, despite their actual value being around ₹2,500–₹3,000.
This move allegedly reduced the original family’s share from 50% to 20%. The notice calls this a criminal breach of trust, estimating the loss at ₹3,498.8 crore.
It also highlights Kalanithi’s ₹6,381 crore dividend gains and seeks a probe by the Serious Fraud Investigation Office into the alleged ₹3,500 crore fraud. A past family dispute over undervaluing MK Dayalu’s stake is also mentioned.
Sunrisers Hyderabad (SRH) used for money laundering?
On the other hand, Dayanidhi also claimed that Sun TV gave false information in its 2006 Red Herring Prospectus. According to the notice, Sun TV said it paid ₹10.64 crore in dividends to their mother, Mallika Maran, in 2005, but no such payment was made.
The notice reads, “These proceeds of crime have been utilized to further enrich yourself by the acquisition of valuable assets/companies, such as Sun Direct TV Pvt Ltd, Kal Radios Pvt Ltd, Kal Airways Pvt Ltd, Kal Publications Pvt Ltd, Sunrisers Hyderabad (SRH), South Asian FM, Sun Pictures, a cricket team in South Africa, a cricket team in the United Kingdom, SpiceJet, and other downstream investments.”
Dayanidhi accuses the company of misleading the public and hiding the truth. The notice demands that Kalanithi restore all shares and assets of Sun TV and related companies to the original owners as of 2003.
It also asks him and his wife, Kaveri, to return all earnings received since then. If not, legal action will be taken. He also revealed that Kalanithi had earlier paid ₹500 crore to their sister Anbukarasi as part of a private settlement after ignoring a previous legal notice in 2024.
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