New Delhi, Aug. 20 -- When a corporate battle spills out into public view, it rarely stems from a single cause. The dispute at Sona BLW Precision Forgings (Sona Comstar)-one of India's leading auto component manufacturers-may appear, on the surface, to be about ownership rights. Yet, beneath the headlines, it is also a cautionary tale about the interlinked nature of three distinct but inseparable governance systems in family businesses: ownership, corporate and family governance.

Following the unfortunate death in June of its non-executive chairman Sunjay Kapur, Sona Comstar-partly owned by the promoter Kapur family-saw board changes that sparked an inheritance dispute. His mother, Rani Kapur, raised objections that the company rebutted ...