High court order update
Awaiting price reaction for this filing.
Bennett Coleman and Company (BCCL), which publishes the Times of India, had filed a petition in the Delhi High Court against Lord's Mark Industries over conversion of warrants it subscribed to in August 2023. BCCL held 1 equity share plus 5 convertible warrants worth a total of ₹13 crore, payable at ₹158 per share, giving it a right to 10,28,483 equity shares. The High Court heard the matter on 1 June 2026, where the company confirmed and acknowledged BCCL's entitlement to those shares and agreed to disclose the rights to the Monitoring Committee and regulators. With this assurance, BCCL sought leave to withdraw the petition, and the Court dismissed it as withdrawn. No adverse order has been passed against the company.
The legal cloud over Lords Mark Industries' recent BSE listing has been cleared with no penalty or restriction, while shareholders should note a small dilution coming from the issuance of about 10.28 lakh shares at ₹158 each to BCCL pursuant to the 2023 warrant agreement.