MUMBAI: According to news daily Indian Express, a bitter family dispute between the Maran brothers, Kalanithi and Dayanidhi, has been resolved following the direct intervention of Tamil Nadu chief minister M K Stalin. The settlement, which saw DMK MP Dayanidhi Maran reportedly receive around Rs 800 crore in cash and nearly an acre of prime land in Chennai’s exclusive Boat Club area valued at an estimated Rs 100 crore, brings an end to a row that had rattled investor confidence and threatened the DMK's image.

The feud boiled over in early June when Dayanidhi issued a legal notice to his elder brother Kalanithi, alleging fraudulent share allotments and corporate misgovernance at Sun TV Network in the early 2000s. Dayanidhi had initially sought Rs 1,500 crore, while Kalanithi was only willing to offer Rs 500 crore.

Stalin, who has previously mediated within the Maran family, initially attempted to resolve the matter himself. When this failed, he enlisted the help of Dravidar Kazhagam president K Veeramani and senior journalist N Ram, both of whom have close ties to the family. Sources indicate that three rounds of talks, including two in person and one via video conference, ultimately led to the agreement.

Dayanidhi’s legal notice specifically claimed that in 2003, while their father Murasoli Maran was in a coma, Kalanithi allegedly allotted himself 1.2 million equity shares at a nominal Rs 10 per share, consolidating over 60 per cent of Sun TV. This, the notice alleged, diluted the stakes of the Maran and M Karunanidhi families from 50 per cent each to 20 per cent.

Sun TV, in a stock exchange filing on June 20, vehemently denied the allegations, calling them “incorrect, misleading, speculative, defamatory and not supported by facts or law,” and stated that all transactions were legally vetted prior to the company’s public listing.

Despite Sun TV’s rebuttal, the controversy sent tremors through the markets, causing its share price to drop over 5 per cent in intra-day trading, and an overall decline of about 8 per cent from recent highs, unsettling investors.

A top source within the DMK first family confirmed that Stalin was visibly displeased by the public nature of the dispute, especially with assembly elections looming next year. His decision to bring in the 91-year-old Veeramani, an elder statesman of Tamil Nadu politics, was due to his respected stature and lack of financial interest in Sun TV.

N Ram, a relative of the Maran family and former editor of The Hindu, also played a crucial role, lending credibility and balance to the mediation given his standing in the media world and ideological alignment with the DMK.

"First, Veeramani phoned the Maran family. After that the others also joined, and three rounds of talks were held between the last week of June and the first week of July," a source revealed, adding, "Both parties were asked to refrain from speaking to the media and were urged to settle and move on.”

The talks underscored the potential damage to the DMK’s and Maran family’s reputation, as well as the high costs and protracted nature of continued litigation.

The late Murasoli Maran, a nephew of Karunanidhi and cousin to Stalin, was instrumental in establishing the DMK’s presence in Delhi and served as a cabinet minister in multiple central governments. His presence as family patriarch had previously maintained peace between Kalanithi, who built the Sun TV empire, and Dayanidhi, who leveraged his father's legacy to become the union minister for telecom.

The first major rift, the Indian Express reported,  occurred in 2007 when the Maran family’s newspaper, Dinakaran, published a poll favouring Stalin as Karunanidhi’s political heir over M Alagiri, leading to violent reactions from Alagiri’s supporters. While tensions have simmered since, the financial dimension of this latest dispute made it one of the most severe.

"This whole thing could have gone the other way," a senior source commented. "But Stalin, Veeramani, and Ram made it clear: let this end now, before it weakens everyone."

 Indian Express failed to get any comments from N. Ram, the Marans or the chief minister.