Lord's Mark Industries Limited has agreed to issue 10,28,483 equity shares to Bennett Coleman and Co. Ltd. at a conversion price of ₹158 per share. This follows an order passed by the Hon'ble High Court of Delhi on June 1, 2026, in the matter of Bennett Coleman and Co. Ltd. vs. Lord's Mark Industries Limited & Ors. The issuance stems from a Share Cum Warrant Subscription Agreement dated August 1, 2023, and resolves a dispute concerning the conversion of warrants subscribed by Bennett Coleman and Co. Ltd. (BCCL).

The petition under Section 9 of the Arbitration and Conciliation Act, 1996, was filed by BCCL seeking interim reliefs related to the conversion of warrants and the proposed listing of the company's equity shares. During the hearing, Lord's Mark Industries informed the court of its intention to issue the shares as per the agreement. Consequently, the petition was dismissed as withdrawn and disposed of, with no adverse order passed against the company.

Background of the Dispute

The dispute arose due to the pendency of the listing and trading process, which legally prevented Lord's Mark Industries from converting the warrants and issuing equity shares to BCCL. BCCL had subscribed to 1 equity share and 5 convertible warrants under the agreement, paying a subscription amount of ₹1.30 crore for warrants and ₹150 for one equity share. The warrants carried an aggregate value of ₹13 crore at the agreed conversion price of ₹158 per share.

Resolution and Compliance

In a communication dated May 30, 2026, addressed to BCCL and submitted to the court, Lord's Mark Industries confirmed and acknowledged BCCL's entitlement to the equity shares. The company agreed to comply with all obligations arising out of the Share Cum Warrant Subscription Agreement and the communication. Lord's Mark Industries further undertook to intimate and provide documents related to the agreement to the Chairman of the Monitoring Committee supervising the implementation of the Resolution Plan within three days of the disposal of the petition.

The company also ensured that BCCL's rights, entitlements, and interests would be disclosed to the members of the Monitoring Committee. The Chairman was tasked with undertaking all incidental actions regarding disclosures and filings with statutory authorities. The resolution allows for the amicable settlement of the matter, with BCCL withdrawing the petition in light of the company's commitments.

Lord's Mark Industries Limited has strengthened its board by appointing four Additional Directors as Independent non-executive directors, effective 04 June 2026. The board approved the appointments during its meeting held on 04 June 2026, subject to the approval of shareholders at the ensuing Annual General Meeting. The new directors will serve a term of five consecutive years commencing from 04 June 2026 and ending on 03 June 2031, and they will not be liable to retire by rotation.

The appointees include Mr. Govind Singh Bhati, Mr. Vinod Tiwari, Ms. Shweta Dilip, and Ms. Pooja Vijay Gohil. The board confirmed that all appointees have furnished their consent in Form DIR-2 and declarations in Form DIR-8. They have also submitted declarations confirming their independence pursuant to Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of the SEBI (LODR) Regulations, 2015. Furthermore, the appointees are not disqualified from being appointed as directors under Section 164 of the Companies Act, 2013.

Profiles of the Appointed Directors

Mr. Govind Singh Bhati is a senior Power Sector and Project Management Professional with nearly a decade of high-level executive experience. He notably served as the Executive Director (Government Project Management) at Rural Electrification Corporation Limited (REC) from 2012 to 2021. His oversight encompassed the electrification of over 1.27 lakh villages and 3.45+ crore household connections. He holds a Bachelor of Engineering (Electrical) and an MBA.

Mr. Vinod Tiwari is a seasoned Renewable Energy Professional with nearly 40 years of experience in solar energy planning and policy implementation. He served as the Head of Solar PV Energy at the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) from 1985 to 2022. He contributed to the development of Asia's first Grid Connected Solar Power Plant and holds a Master of Technology from IIT - Banaras Hindu University.

Ms. Shweta Dilip Mehta is an entrepreneur and healthcare accessibility advocate with over 18 years of experience. She founded ChemistOnline.in and operated a Pradhan Mantri Bhartiya Janaushadhi Kendra. A Person with Disability, she advocates for inclusion and holds a Bachelor of Commerce degree from Mumbai University.

Ms. Pooja Vijay Gohil is a qualified Company Secretary and a Fellow Member of the Institute of Company Secretaries of India (ICSI). She has over seven years of experience in secretarial, legal, and compliance functions. Currently associated with Rahul G. Agrawal & Associates, she advises companies on corporate laws and regulatory filings.

Key Details of Appointments

The board meeting commenced at 11.30 AM and concluded at 3.40 PM on 04 June 2026. Lord's Mark Industries Limited, formerly known as Lords Mark India Limited and Kratos Energy & Infrastructure Limited, has submitted the disclosure to BSE Limited pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.