Millennium Post

Sun TV shares slump over 13%

Shares of Sun TV slumped 13 per cent after the Enforcement Directorate attached assets worth Rs 742.58 crore in the name of former Telecom Minister Dayanidhi Maran, his brother Kalanithi and other family members in connection with money laundering probe in Aircel-Maxis deal.

Shares of the company tanked 11.36 per cent to Rs 402.25 on the BSE on Monday. On the NSE, it plunged 13.19 per cent to Rs 395.85. The ED had on Wednesday last week attached Rs 742.58 crore assets of Marans in the Aircel-Maxis deal. Stock markets were closed on Thursday and Friday for holidays.

Amongst the assets attached are a huge amount of fixed deposits (FDs) and mutual funds held largely by his brother and Sun TV MD Kalanithi. Some assets of Kalanithi’s wife Kaveri have also been attached. The individual assets include FDs held by Dayanidhi and others worth Rs 7.47 crore, FD worth Rs 100 crore and mutual funds worth Rs 2.78 crore held by Kalanithi.
PTI

PTI

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