Jagran Prakashan Limited has informed the Exchange about Intimation of Extra-Ordinary General Meeting of the Members of the Company under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
JAGRAN · price
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Jagran Prakashan Limited is convening an EGM on 29th May 2026 to remove all 8 directors — 7 independent directors and 1 whole-time director — at the requisition of majority shareholder Jagran Media Network Investment Private Limited (JMNIPL), which holds 67.97% of the company. The stated reason is that the directors were not validly appointed because the Non-Executive Chairman (Mr. Mahendra Mohan Gupta) allegedly did not exercise JMNIPL's voting rights as directed by JMNIPL's board. The matter was previously stayed by the Hon'ble NCLT Allahabad but the stay was vacated on 23rd April 2026 when the NCLT dismissed three applications (C.A. Nos. 4, 5 and 6 of 2026), allowing the requisitioned EGM to proceed. Voting will be electronic with remote e-voting from 26th to 28th May 2026. The directors sought to be removed have the right to make representations to shareholders.
This is a major governance shake-up driven by the controlling shareholder group. With JMNIPL holding ~68%, the removals are almost certain to pass. The stock may see volatility due to uncertainty over board composition and the underlying family/corporate disputes that triggered this EGM.