Disclosure under regulation 30 of the Listing Regulations
JAGRAN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Jagran Prakashan Limited has called an EGM on May 29, 2026 to remove 8 directors, including 7 Independent Directors (Ms. Divya Karani, Mr. Shailendra Swarup, Ms. Anita Nayyar, Ms. Kemisha Soni, Mr. Pramod Agarwal, Mr. Shaalin Tandon, Mr. Arun Anant) and 1 Whole-time Director (Mr. Satish Chandra Mishra). The EGM has been requisitioned by Jagran Media Network Investment Private Limited, which holds 67.97% of the company's equity share capital. The stated reason for removal is that these directors were allegedly not validly appointed because Mr. Mahendra Mohan Gupta did not exercise voting rights as decided by the Board. The matter involves ongoing legal disputes, including petitions before the Hon'ble NCLT Allahabad Bench, which dismissed applications seeking to stop the EGM on April 23, 2026, paving the way for this meeting to proceed.
This represents a highly unusual and aggressive move by the majority shareholder to remove the entire board. The stock may experience volatility due to governance concerns and the contested nature of these removals. Shareholders should carefully review the resolutions and participate in voting given the significant implications for the company's leadership structure.