A big battle is brewing at SUN TV Network Limited, one of India’s largest media networks. Former Telecom Minister and DMK MP Dayanidhi Maran has accused his elder brother, Kalanithi Maran, of unlawfully gaining control of the company. The former minister has served a legal notice to his brother, alleging fraudulent transactions since 2003 that enabled Kalanithi to take control of the family-promoted media enterprise.
The Chennai-based media network
SUN TV Network, which has a market capitalisation of around 23,000 crore rupees, is based in Chennai. It operates 37 TV channels and the OTT platform SUN Nxt. The network also has a presence in film and television production.
Marans: An influential family
The Maran family is one of the most influential political and business families in Tamil Nadu. The Maran brothers are nephews of Tamil Nadu Chief Minister and DMK chief, MK Stalin. Air India reduces international flights
Air India has announced that it will reduce flights on 16 international routes between 21 June and 15 July. The airline is also suspending flights on three routes: Delhi–Nairobi, Amritsar–London Gatwick, and Goa Mopa–London Gatwick. The decision comes in the wake of the fatal Air India plane crash in Ahmedabad earlier this month. The Tata group-owned airline said the reductions are part of voluntary enhanced pre-flight safety checks. It also cited extended flight durations caused by airspace closures in the Middle East as another reason behind the move.
Elon Musk’s Starlink gets India licence
India has granted a licence to Elon Musk’s satellite internet company, Starlink, to operate in the country. Communications Minister Jyotiraditya Scindia made the announcement in a social media post, following his meeting with Gwynne Shotwell, President and COO of SpaceX, which owns Starlink.
Toll relief for road travellers
Nitin Gadkari, Minister of Road Transport and Highways, has announced the launch of a FASTag-based annual pass priced at 3,000 rupees. The pass, set to launch on 15 August, will be valid for one year from activation or up to 200 trips—whichever comes first. A breather, then, on toll payments.
Motor insurance premiums to rise
According to a CNBC-TV18 report, the Finance Ministry has likely endorsed the Insurance Regulatory and Development Authority of India’s proposal to raise Motor Third-Party insurance premiums by an average of 18%.
The report, citing top sources, says the Ministry of Road Transport and Highways is actively evaluating the proposal and could take a final decision within the next one to two weeks. If approved, this would mark the first hike in motor premiums after a four-year freeze.
Dalal Street ends higher
Indian equities started the week on a strong note on Monday but slipped over the next three sessions as the Israel–Iran war weighed on investor sentiment. However, a sharp rebound on Friday helped both the Sensex and the Nifty end the week higher, with gains of around 1.5% each.
