Jagran Prakashan Limited has informed the Exchange regarding announcement under Regulation 30 of SEBI Listing Regulations, 2015.
JAGRAN · price
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The National Company Law Tribunal (NCLT) Allahabad Bench has dismissed three connected applications (CA Nos. 04, 05, and 06 of 2026) filed by Jagran Media Network Investment Private Limited (JMNIPL), the majority shareholder holding 67.97% stake in Jagran Prakashan. JMNIPL had sought removal of 7 Independent Directors and 1 Whole-Time Director through a requisitioned Extra Ordinary General Meeting. The NCLT vacated its earlier interim order dated 27th February 2026 which had kept the EGM requisition in abeyance. The dispute centers on competing claims of authority to vote on behalf of JMNIPL at Jagran Prakashan's meetings, with allegations that Chairman Mahendra Mohan Gupta was casting votes despite having his authorization revoked by JMNIPL's Board. The NCLT has now observed that parties are free to proceed under the Companies Act, 2013.
The dismissal is a setback for JMNIPL's efforts to remove the current Independent Directors. However, the tribunal's clearance for parties to proceed under the Companies Act means the governance battle may now move to shareholder meetings. This indicates continued uncertainty in the company's leadership structure.