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NCLT Defers Jagran Prakashan EGM for Removal of 8 Directors Until March 19, 2026
The National Company Law Tribunal (NCLT), Allahabad, has ordered the deferment of a proposed Extraordinary General Meeting (EGM) of Jagran Prakashan Limited. The EGM was requisitioned by the holding company, Jagran Media Network Investment Private Limited, to remove seven Independent Directors and one Whole-time Director. The court has directed that the requisition be kept in abeyance until March 19, 2026, pending further consideration of the main legal case (CP No. 64 of 2023). This development indicates a temporary freeze on significant board-level changes amidst ongoing promoter-level disputes.
Key Highlights
NCLT Allahabad deferred the EGM requisitioned by holding company JMNIPL until March 19, 2026
The EGM sought the removal of 7 Independent Directors and 1 Whole-time Director from the board
The legal proceedings are part of a larger dispute under Company Petition No. 64 of 2023
The court has directed the main case to be listed high on the board for the next hearing
Current management and board structure will remain in status quo until the next judicial review
💼 Action for Investors
Investors should closely monitor the NCLT hearing on March 19, 2026, as it will impact corporate governance and board stability. The ongoing promoter dispute suggests potential volatility and governance risks that require a cautious outlook.
Jagran Prakashan NCLT Update: Orders Reserved on Removal of 8 Directors
Jagran Prakashan is currently involved in a legal dispute at the NCLT Allahabad regarding a Special Notice to remove 7 Independent Directors and 1 Whole-Time Director. The company and its promoter entity, JMNIPL, have filed applications contesting the EGM request and seeking to regulate voting rights based on a 2023 board resolution. The NCLT has concluded hearings on these specific applications and has reserved its orders for pronouncement on February 27, 2026. This ongoing promoter-level conflict poses a significant risk to the company's corporate governance and board stability.
Key Highlights
NCLT Allahabad has reserved orders on applications regarding the removal of 7 Independent Directors and 1 Whole-Time Director.
The legal challenge stems from a Special Notice and EGM request dated February 12, 2026, proposing major board changes.
Promoter entity JMNIPL is seeking to enforce a July 14, 2023, Board Resolution to control voting procedures in shareholder meetings.
The NCLT is scheduled to pronounce its decision on these specific applications on February 27, 2026, at 12:30 p.m.
The dispute is part of a larger ongoing case (C.P. No. 64 of 2023) involving the Gupta family members.
💼 Action for Investors
Investors should wait for the NCLT's pronouncement on February 27, as the removal of nearly the entire independent board could lead to significant management instability. Monitor the situation for any impact on operational focus amid the prolonged promoter dispute.
Jagran Prakashan Files Legal Application to Block Removal of 8 Directors
Jagran Prakashan Limited (JPL) has filed a legal application to restrain a requisitioning shareholder from removing eight board members. The dispute involves a Special Notice dated February 12, 2026, which proposed the removal of seven Independent Directors and one Whole-Time Director. This legal move is part of an ongoing litigation (C.P. No. 64 of 2023) between the Mahendra Mohan Gupta and Devendra Mohan Gupta factions. The company is seeking to prevent the convening of an Extraordinary General Meeting (EGM) for these removals, highlighting significant internal promoter conflict.
Key Highlights
Legal application filed on February 20, 2026, in the matter of C.P. No. 64 of 2023.
Seeks to block a Special Notice dated February 12, 2026, regarding director removals.
Proposed removal involves 7 Independent Directors and 1 Whole-Time Director.
Company aims to restrain shareholders from taking steps to convene an Extraordinary General Meeting.
💼 Action for Investors
Investors should exercise caution as the attempt to remove a majority of the board indicates a severe breakdown in corporate governance and promoter relations. Monitor the court's decision on the stay application, as management instability typically leads to stock price volatility.
Jagran Prakashan Holding Company Seeks Removal of 7 Independent and 1 Whole-time Director
Jagran Media Network Private Limited (JMNIPL), the holding company of Jagran Prakashan Limited (JPL), has issued a special notice to remove 7 Independent Directors and 1 Whole-time Director. The holding company alleges that these directors were not validly appointed because the Chairman, Mr. Mahendra Mohan Gupta, did not vote in accordance with JMNIPL board decisions. The matter is currently sub judice before the NCLT Allahabad Bench under petitions filed in 2023 and 2025. The JPL Board is currently evaluating legal options to respond to the request for an Extra-ordinary General Meeting (EGM).
Key Highlights
Holding company JMNIPL proposes removal of 7 Independent Directors and Whole-time Director Mr. Satish Chandra Mishra.
Allegations involve invalid appointments due to voting discrepancies by Non-Executive Chairman Mahendra Mohan Gupta.
Legal disputes are pending before NCLT Allahabad Bench under C.P. No. 64 of 2023 and C.P. No. 57 of 2025.
JPL Board has decided to take appropriate legal steps in response to the EGM request and Special Notice.
The dispute highlights significant internal friction within the promoter group and the board structure.
💼 Action for Investors
Investors should remain cautious as the potential removal of a large portion of the board indicates significant governance risks and promoter infighting. Monitor the NCLT rulings and the outcome of the proposed EGM for clarity on management stability.
Jagran Prakashan Holding Co Proposes Removal of 7 Independent Directors and 1 WTD
Jagran Media Network Private Limited (JMNIPL), the holding company of Jagran Prakashan, has issued a special notice seeking the removal of seven Independent Directors and one Whole-time Director, Mr. Satish Chandra Mishra. The holding company alleges that these directors were not validly appointed because the Chairman, Mr. Mahendra Mohan Gupta, did not exercise voting rights as directed by the JMNIPL Board. This internal governance conflict is currently sub judice before the NCLT Allahabad under two separate company petitions. The Board of Jagran Prakashan is currently evaluating legal steps to respond to the request for an Extra-ordinary General Meeting (EGM).
Key Highlights
Holding company JMNIPL issued a special notice on Feb 12, 2026, to remove 7 Independent Directors and 1 Whole-time Director.
The removal is proposed on grounds that the directors were not validly appointed due to disputed voting right exercises.
Legal disputes regarding voting control are pending before NCLT Allahabad (C.P. No. 64 of 2023 and C.P. No. 57 of 2025).
The Board of Jagran Prakashan Limited is seeking legal recourse to address the EGM request and the special notice.
The 7 Independent Directors targeted include Ms. Divya Karani, Mr. Shailendra Swarup, and Mr. Pramod Agarwal among others.
💼 Action for Investors
Investors should exercise caution as this boardroom conflict indicates significant governance risks and potential management instability. Monitor the NCLT rulings and the company's subsequent disclosures regarding the EGM and board composition.
Jagran Prakashan Q3 Consolidated PAT Falls 12% to ₹55.17 Cr; 9M PAT Up 23%
Jagran Prakashan reported a weak Q3FY26 with consolidated revenue declining 7.7% YoY to ₹476.71 crores. Consolidated PAT for the quarter fell 12% to ₹55.17 crores, impacted by lower advertisement revenues and a ₹6.89 crore provision for the new labor code. However, the 9-month performance remains strong with PAT growing 23% to ₹178.87 crores, though this was significantly aided by a ₹31.80 crore one-time gain from a Keyman policy maturity. Segmentally, the flagship Dainik Jagran saw margin compression, while the Radio and Midday businesses faced revenue headwinds.
Key Highlights
Consolidated Q3 Revenue fell 7.7% YoY to ₹476.71 crores, driven by a decline in advertisement income across print and radio.
Standalone Q3 PAT decreased to ₹52.43 crores from ₹59.68 crores in the previous year.
Operating profits were impacted by a ₹6.89 crore provision made for the implementation of the new labor code.
9MFY26 PAT grew 23% YoY to ₹178.87 crores, supported by ₹31.80 crores from Keyman policy maturity proceeds.
Radio business (Music Broadcast Ltd) saw a sharp revenue decline to ₹46.48 crores from ₹65.38 crores in Q3FY25.
💼 Action for Investors
The quarterly results indicate significant pressure on top-line growth and margins across core segments. Investors should exercise caution as the 9-month profit growth is heavily skewed by a one-time other income gain, while core advertising revenue remains sluggish.
Jagran Prakashan Q3 Standalone Profit Declines 12% YoY to ₹52.43 Crore
Jagran Prakashan reported a standalone revenue of ₹413.77 crore for Q3 FY2025-26, a 4.4% decline from ₹433.01 crore in the previous year. Net profit for the quarter fell to ₹52.43 crore from ₹59.68 crore YoY, partially impacted by a one-time employee benefit cost of ₹5.77 crore related to new labor codes. The company continues to operate without a Managing Director amid ongoing promoter-level litigation in the NCLT. Despite the internal disputes, management asserts there is no immediate adverse impact on the company's financial stability.
Key Highlights
Standalone Revenue from operations fell 4.4% YoY to ₹41,377.14 Lakhs.
Net Profit for the quarter decreased by 12.1% YoY to ₹5,242.62 Lakhs.
A one-time expense of ₹576.94 Lakhs was recognized due to the implementation of New Labour Codes.
Nine-month standalone profit for FY26 stands at ₹18,549.90 Lakhs compared to ₹21,111.61 Lakhs in FY25.
Ongoing promoter disputes under Sections 241 and 242 of the Companies Act remain pending with the NCLT.
💼 Action for Investors
Investors should exercise caution as the company faces both a decline in earnings and persistent governance uncertainty due to promoter-level legal battles. Monitor the NCLT proceedings and the appointment of a new Managing Director as key triggers for stability.
Jagran Prakashan NCLT Hearing for Shareholder Dispute Rescheduled to Feb 13, 2026
Jagran Prakashan Limited (JPL) has informed that the NCLT Allahabad bench has re-notified the hearing for two major company petitions to February 13, 2026. The petitions, involving promoter-level disputes (Mahendra Mohan Gupta vs. Devendra Mohan Gupta), were listed on February 3, 2026, but no arguments were heard as the bench was focused on urgent IBC matters. This ongoing legal battle under Sections 241 and 242 of the Companies Act concerns allegations of oppression and mismanagement within the promoter group. Previously scheduled hearing dates between February 4 and February 11, 2026, have been cancelled.
Key Highlights
Hearing for CP No. 64/2023 and CP No. 57/2025 rescheduled to February 13, 2026, at 3:00 p.m.
No arguments were advanced during the February 3, 2026, session due to a Special Bench constitution for IBC matters.
The legal dispute involves key promoters and Jagran Media Network Investment Private Limited regarding management control.
Previous hearing dates between February 4 and February 11, 2026, have been officially cancelled.
The company will provide further updates upon material developments in the proceedings.
💼 Action for Investors
Investors should monitor the outcome of the February 13 hearing as promoter-level disputes can impact corporate governance and long-term strategic stability. No immediate action is required as this update is primarily procedural.
Jagran Prakashan Updates on NCLT Legal Proceedings; Next Hearings Set for February 2026
Jagran Prakashan has provided a procedural update regarding two ongoing legal disputes before the NCLT Allahabad involving promoter-level conflicts. In the case of Mahendra Mohan Gupta vs. Devendra Mohan Gupta (C.P. No. 64 of 2023), final submissions from the respondents have commenced. In the newer case (C.P. No. 57 of 2025), the court has granted petitioners three weeks to file rejoinders. Both matters are now scheduled for further hearings in early February 2026, indicating that a final resolution is still several months away.
Key Highlights
C.P. No. 64 of 2023 adjourned for final submissions on Feb 3, 4, and Feb 9-11, 2026.
Senior Counsel for Respondent No. 12 has officially commenced final arguments in the 2023 matter.
Petitioners in C.P. No. 57 of 2025 granted 3 weeks to respond to replies filed by respondents.
The 2025 petition case is specifically adjourned to February 3, 2026, for its next hearing.
Disputes involve Sections 241, 242, and 244 of the Companies Act, 2013, relating to oppression and mismanagement.
💼 Action for Investors
Investors should continue to monitor these proceedings as they involve key promoter groups and could impact management stability. No immediate action is required as these are procedural updates rather than final judgments.