The sudden demise of billionaire businessman Sunjay Kapur in London, aged 53, has unravelled a succession crisis at his auto components manufacturer Sona Comstar, according to a Hindustan Times report.
The businessman had taken over reigns of the empire in 2015 after his father, industrialist Dr Surinder Kapur’s death, and steered Sona Comstar towards a market cap of over ₹31,000 crore (around $4 billion), according to Bloomberg.
In a statement, issued late on June 13, the company addressed Sunjay Kapur’s death and assured stakeholders that “our operations and prospects remain unchanged as we honour his legacy”.
Sunjay Kapoor’s children to join company?
Widely recognised by the public as actress Karisma Kapoor‘s ex-husband, the couple were married from 2003 to 2016 and have two children — 20-year-old Samaira and 14-year-old Kiaan. He also has a 6-year-old son named Azarias with third wife Priya Sachdev. He was also married to fashion designer Nandita Mahtani (first wife from 1996-2000).
At present, there are no plans for any of his children to take over reins of the company. And according to an India Today report, Sunjay Kapur’s sisters are likely to step into management roles.
But, there is no official confirmation from the Sona Comstar on this yet.
Personal weath of ₹10,300 crore — what do children with Karishma Kapoor get?
A US citizen, Sunjay Kapur joined the ranks of the World’s Billionaires in 2022. According to Forbes, his net worth at the time of death was $1.2 billion (i.e. ₹10,300 crore). A large chunk of this comes from Gurugram headquartered Sona Comstar, which operates 12 manufacturing facilities and employs over 5,000 people across India, China, Mexico, Serbia, and the US. The company had seen huge boost from the electric vehicles (EV) space over the recent years.
The HT report noted that as per law, management of Sunjay Kapur’s estate passes to his wife Priya Sachdev. It however also noted that as part of legacy planning, his children Samaira and Kiaan have each been gifted bonds worth ₹14 crore and a monthly income of ₹10 lakh.
According to an ANI reported dated 2016, Sunjay Kapur bought bonds worth ₹14 crore each, with an interest payment of ₹10 lakh for his children as he wanted to secure a substantial contribution for their future.
Also, as part of the divorce order from the Supreme Court that year, Sunjay Kapur’s father’s house in Mumbai was transferred in Karisma Kapoor’s name; and she got full custody of the two children, the ANI report added.
A full breakdown of the inheritance and Sunjay Kapur’s will could not be immediatedly confirmed.
