Independent Directors of Jagran Prakashan Limited Submit Representation Regarding Removal Proposals

Independent Directors of Jagran Prakashan Limited Submit Representation Regarding Removal Proposals​

Jagran Prakashan Limited (JPL) has received a collective representation from several Independent Directors concerning a special notice proposing their removal, alongside the removal of Whole-time Director Mr. Satish Chandra Mishra. The representation, submitted on May 11, 2026, addresses the backdrop of governance disputes and the operational continuity of the Company.

The directors involved wrote as a collective body under Section 169 of the Companies Act, 2013, noting that the present proposals stem from voting and control related disputes among certain members of the promoter and promoter group. They clarified that their roles are independent of these ongoing disputes, which are currently subject to proceedings before the Hon ble National Company Law Tribunal, Allahabad, in C.P. No. 64 of 2023 and C.P. No. 57 of 2025.

Governance and Tenure Details​

The directors emphasized their consistent discharge of duties, stating that their decisions have been guided by what they believed to be in the best interests of the Company and all its stakeholders. The Independent Directors highlighted that the proposed removal lacks specific allegations regarding their performance, conduct, integrity, or discharge of responsibilities.

The group noted that many members have been associated with the Company for several years, with some Independent Directors serving since the 2018-2019 term. Mr. Satish Chandra Mishra, who has been with the Company since 1986, was specifically recognized for his long association and critical role in overseeing the continuity and quality of publication across the Company's multiple printing centers.

Dispute Context and Board Stability​

The representation stated that the proposed removal is substantially based on the premise that the casting of a vote on behalf of Jagran Media Network Investment Private Limited was improper. The directors argued that the Company’s operational stability requires continuity at the Board level, especially during internal disputes, and that such actions risk adversely affecting investor confidence and market capitalization.

Furthermore, the Independent Directors referenced the orders dated September 27, 2023, and October 4, 2023, passed by the Hon ble NCLT. These orders mandated that major company decisions be taken by the Board in accordance with the Companies Act, 2013. The proposal to remove Mr. Mishra, who was authorized to oversee routine day-to-day operations under the Board's supervision, was noted as directly undermining the governance framework established by the NCLT.

Governance Initiatives and Conclusion​

The directors also reminded members of steps they initiated to improve oversight, including proposals for the Nomination and Remuneration Committee to review performance and appraisal mechanisms for various senior staff.

The representation concluded by urging members to consider the broader implications of the proposed resolutions. The directors stated that they have consistently acted within the confines of their legal and fiduciary obligations, aiming to preserve sound governance standards and institutional stability while underlying issues remain sub judice before the Hon ble Tribunal.

The letter was signed by seven Independent Directors, confirming their commitment to upholding the highest standards of governance and acting in the best interests of Jagran Prakashan Limited.

JAGRAN Stock Price Movement​

Shares of Jagran Prakashan Limited are edging higher to ₹68.99 as of 2:44 PM today, rallying by 2.00% on strong market momentum. The stock is seeing significant activity, trading on a total volume of 223,215 shares.