Jagran Prakashan Limited has received a significant directive from the National Company Law Tribunal (NCLT) Allahabad regarding the deferment of its proposed extraordinary general meeting. The tribunal's order came during proceedings on March 19, 2026, involving multiple company petitions and applications related to ongoing corporate disputes. The company has now provided formal disclosure documentation dated March 21, 2026, including the complete NCLT orders.

NCLT Proceedings and Orders

The NCLT Allahabad heard several matters involving the company, including two main company petitions and three related company applications. The tribunal reserved orders on the applications filed in connection with the main petitions after hearing all parties involved.

The first petition, "Mahendra Mohan Gupta and Ors v. Devendra Mohan Gupta and Ors., C.P. No. 64 of 2023," and the second petition, "Shailendra Mohan Gupta and Ors v. Jagran Media Network Investment Private Limited and Ors., C.P. No. 57 of 2025," represent ongoing disputes within the promoter family structure.

Extraordinary General Meeting Deferment

The tribunal specifically directed that the proposed extraordinary general meeting requisitioned by Jagran Media Network Investment Private Limited (JMNIP), the holding company of Jagran Prakashan Limited, be deferred for the time being. The EGM was seeking significant changes to the company's board composition.

The tribunal's order ensures that no board changes can be implemented through the EGM process until the pending legal matters are resolved. This provides stability to the current board structure during the ongoing proceedings.

Legal Representation and Proceedings

The proceedings involved extensive legal representation with senior advocates appearing for various parties. The tribunal noted that the requisition dated February 12, 2026, to convene the extraordinary general meeting shall continue to be in abeyance and would be subject to the final decision in the aforementioned company applications.

Corporate Governance Implications

The deferment order affects the company's immediate governance structure, as the proposed removal of eight directors would have significantly altered the board composition. The NCLT's intervention ensures that corporate governance decisions remain suspended pending the resolution of underlying disputes between stakeholders.

The company has committed to providing updates only when material developments occur in the proceedings, indicating a structured approach to managing stakeholder communications during this period.

Regulatory Compliance and Next Steps

Jagran Prakashan Limited has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formal disclosure dated March 21, 2026, was signed by Amit Jaiswal, Chief Financial Officer and Company Secretary, and includes the complete NCLT orders uploaded to the tribunal's system.

The main company petitions have been scheduled for further hearing on April 16, 2026, at 2:30 p.m. before the NCLT Allahabad. The company will continue to provide disclosures and updates as material developments emerge from the ongoing legal proceedings, ensuring compliance with regulatory requirements under SEBI listing obligations.

Jagran Prakashan Limited has disclosed that the National Company Law Tribunal (NCLT) Allahabad has deferred the company's proposed extraordinary general meeting (EGM) till March 19, 2026. The order was passed on February 27, 2026, in connection with Company Applications (C.A.) Nos. 04, 05, and 06 of 2026.

NCLT Order Details

The NCLT Allahabad directed that the proposed extraordinary general meeting of Jagran Prakashan Limited, requisitioned by Jagran Media Network Investment Private Limited (JMNIPL), be deferred for the time being. The requisition sought removal of 7 independent directors and 1 director from the office of whole-time director (WTD).

Background of the Dispute

JMNIPL, the holding company of Jagran Prakashan Limited, holds 67.97% of the paid-up equity share capital of the company. The requisition for the EGM was sent on February 12, 2026, under Section 100 of the Companies Act, 2013, seeking to remove eight independent directors from the board.

The dispute centers around a board resolution dated July 14, 2023, passed by JMNIPL's majority shareholders, which authorized two directors - Dhirendra Mohan Gupta and Sanjay Gupta - to cast votes as authorized representatives in all general meetings of Jagran Prakashan Limited.

Tribunal's Reasoning

The NCLT noted several key factors in its decision:

• The proposed en-masse removal of independent directors would create a void situation and impair effective functioning of the listed public limited company
• Approximately 67,000 shareholders comprising about 31-32% of total paid-up share capital need protection
• Independent directors serve as the only voice for minority shareholders amid the ongoing inter-se dispute
• Larger public interest requires consideration

Shareholding Structure

Regulatory Compliance

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated it will provide further updates when there are material developments in the proceedings.

The information has been uploaded on the company's corporate website ( www.jplcorp.in ) and the websites of National Stock Exchange of India Limited and BSE Limited, as required under regulatory provisions.

Next Steps

The NCLT has directed that the requisition be kept in abeyance till March 19, 2026, when the applications will be heard along with the main case CP No. 64 of 2023, which has been listed high on the board for further consideration.