Sanjay Kapoor’s Passing Leaves Sona Comstar at a Crossroads:
A Global Fortune, Family Ties, and the Search for a True Heir to His Vision

The story of Sanjay Kapoor is not merely the tale of a wealthy businessman, but rather the journey of a visionary whose dreams and ambitions shaped a global brand and left behind a legacy that continues to provoke questions and contemplation. Sanjay Kapoor, once known as the brain behind a global business empire and the former husband of Bollywood actress Karisma Kapoor, is no longer among us. His sudden passing has left a void, not only in the hearts of those who knew him but also in the corridors of the company he built, Sona Comstar, now valued at an astonishing 31,000 crore rupees.

The afternoon of June 12th in London was marked by a high-profile polo match, an event that drew the attention of many. But what began as a day of excitement quickly turned into one of tragedy when Sanjay Kapoor collapsed on the field, never to rise again. Initial rumors suggested a fatal allergic reaction to a bee sting, but the company later confirmed that it was a cardiac arrest. The news was shocking, especially considering Sanjay’s reputation as a fitness enthusiast and sports lover. His untimely demise sent ripples across the business world, leaving everyone wondering who would now steer the ship he had so carefully captained.

Sanjay Kapoor was more than just a rich man; he was a visionary. The company, originally started by his father Surendra Kapoor in 1995, had grown under Sanjay’s leadership into a powerhouse supplying auto parts to global giants like Tesla and Jaguar Land Rover. From its humble beginnings, Sona Comstar had expanded its reach across continents, establishing manufacturing units in the United States, Mexico, Serbia, and China, and transforming itself into a global technology brand, especially in the field of advanced parts for electric vehicles.

With Sanjay gone, the immediate question that arose was: who would take over this empire? Public attention first turned to Karisma Kapoor, his ex-wife and the mother of his two children, Samaira and Kiaan. Then there was Priya Sachdev, Sanjay’s third wife, herself a businesswoman with a respectable background. Yet, in a surprising move, the company’s board chose not a family member, but an outsider—Jeffrey Mark Overly—as the new chairman. This decision was not based on emotion, but on experience and vision. Jeffrey, with 43 years of industry expertise and a track record at top companies such as General Motors, Delphi, and Blackstone, had already served as an independent director on Sona Comstar’s board since 2021, attending every meeting with unwavering dedication. On April 30, 2025, the board renewed his directorship for another five years and elevated him to the position of chairman, signaling a clear preference for professionalism over sentimentality.

The market reacted instantly to the news of Sanjay’s death, with Sona Comstar’s shares plummeting by 7%. Anxiety spread across the business community, and questions surfaced about the future of the company. Would the empire Sanjay built now crumble? Would a family successor step in, or would the company lose its way? The board’s decision to appoint Jeffrey Mark Overly was a testament to their commitment to wisdom over emotion, choosing a leader who understood the pulse of the business and could guide it through uncertain times.

Priya Sachdev, Sanjay’s third wife, was given a significant, though not executive, role as an additional non-executive director. This honorary position allowed her to remain connected to the company without being directly involved in daily operations. Despite her close relationship with Sanjay’s children from his marriage to Karisma, and her own business acumen, the board opted to keep the company’s leadership firmly in the hands of seasoned professionals.

As for Sanjay Kapoor’s legacy, his total assets were estimated at around 10,300 crore rupees—an immense fortune spread across companies, investments, and properties. Yet, surprisingly, neither his wife, children, nor sister received any direct stake in Sona Comstar. However, Sanjay had made provisions for his children: he had secured 14 crore rupees in bonds under their names, yielding a monthly interest of one lakh rupees, and had transferred ownership of his luxurious home in Mumbai’s Khar district to them. Karisma Kapoor, at the time of their divorce, had already received a substantial alimony of 70 crore rupees. In this way, Sanjay divided his wealth with both emotion and logic—keeping business and family interests separate.

The board’s decision to appoint Jeffrey Mark Overly as chairman shocked many who expected a family member to take charge. But Sona Comstar had evolved from a family business into a professional corporate structure, where management strategy outweighed familial ties. Jeffrey’s background in crisis management and his experience with global firms made him the ideal candidate to lead the company through the turbulence following Sanjay’s passing. He had already started planning for new technologies, policies, and markets, demonstrating his proactive approach and commitment to the company’s future.

Under Sanjay Kapoor’s leadership, Sona Comstar was not just an Indian company; it became a global technology brand with a focus on advanced parts for electric vehicles—smart sensors, braking systems, and software control units. When he took over in 2015, the company was a mid-level auto parts manufacturer. Through strategic partnerships, such as with Blackstone, and the merger of Sona and Comstar, Sanjay transformed the company into a hub of innovation and technology, with a vision that extended far beyond the present. He aimed to make Sona Comstar a leading supplier in the global electric vehicle market, not just in India but also in Japan, China, and Europe. His plans were for the next decade, and he had already started laying the groundwork in every division of the company.

Yet, fate had other plans. Sanjay’s sudden death left his vision unfinished. The pressing question now is whether his team, led by Jeffrey Mark Overly and the board, can maintain the direction Sanjay had set. Social media debates erupted, with some questioning why Priya Sachdev or Mandira Kapoor, Sanjay’s sister and a businesswoman in her own right, were not chosen to lead. But the board’s decision was rooted in resumes, not relationships. Sona Comstar, now a ship navigating global storms, needed a captain who could read the tides of business, understand the direction of technology, and withstand the tempests of the market.

Looking back, it is clear that Sanjay Kapoor’s legacy is much more than a company or a fortune. It is a legacy of vision, direction, and dreams. His death may have shaken many, but the company he built stands strong, propelled by the very vision he set for its future. His children, Samaira and Kiaan, may not be directly involved in the company today, but Sanjay ensured their financial security. Mandira Kapoor, despite her capabilities, was also not given a major role, reflecting the board’s intent to limit family involvement.

Today, Sona Comstar is no longer a family business but a professionally managed corporate entity, where management strategy takes precedence over familial relations. As the market stabilizes and the company moves forward under new leadership, one cannot help but wonder whether Sanjay Kapoor would have been pleased with these decisions. He dreamed of a future where family and business could coexist, but the reality is a professional boardroom where his loved ones watch from afar.

Sanjay Kapoor’s contribution is now remembered in a small section on the company’s website, his name recorded as chairman emeritus in board meetings. This story serves as a reminder that wealth and legacy are often two different things. Sanjay Kapoor left behind a fortune of 10,300 crore rupees, but his true legacy is the direction, the vision, and the fire he ignited in his company, his children, and the industry. The regret is that while the legacy may be divided on paper, it remains incomplete in the hearts of those who cherished him. This is not just the story of a businessman, but of a dreamer who wanted India to lead the world in technology. He is gone, but the storm of questions remains: Who is his true heir? Is legacy defined by titles, or by those who strive to live his dream? If Sanjay Kapoor is watching, perhaps he, too, wonders whether his legacy reached his loved ones, or was left behind in a boardroom.