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.

Jagran Prakashan Limited has provided an update on ongoing NCLT proceedings regarding director removal proposals and related applications, with the tribunal reserving orders on multiple applications filed by the company and related parties.

NCLT Proceedings Update

Following the company's earlier disclosure on February 20, 2026, three new applications have been filed in the pending matter "Mahendra Mohan Gupta and Ors. v. Devendra Mohan Gupta and Ors., C.P. No. 64 of 2023." The applications were listed for hearing on February 24, 2026, and argued extensively on February 26, 2026.

Relief Sought in Applications

Jagran Prakashan Limited's application (C.A. No. 05 of 2026) seeks reliefs regarding the special notice and request for extraordinary general meeting dated February 12, 2026, which proposes removal of 7 Independent Directors and one Whole-Time Director. Jagran Media Network Investment Private Limited has prayed that voting in shareholders meetings shall be carried out strictly in terms of the Board Resolution dated July 14, 2023, and only by authorized persons.

NCLT Directions and Timeline

The Hon'ble NCLT Allahabad issued notices in all three applications on February 24, 2026, directing responses to be filed within two days. After extensive arguments on February 26, 2026, the tribunal has reserved orders in the three applications.

Additional Proceedings

The Senior Counsel appearing for respondents in the main Company Petition continued with final submissions, with further arguments scheduled for February 26, 2026. Additionally, C.P. No. 57 of 2025 titled "Shailendra Mohan Gupta and Ors. v. Jagran Media Network Investment Private Limited" was also listed and posted to February 26, 2026.

Regulatory Compliance

The company has maintained its commitment to transparency by providing regular disclosures under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information has been made available on the company's corporate website and stock exchange platforms, with further updates promised as material developments occur in the proceedings.