Lord's Mark Industries Acknowledges Warrant Entitlement, Petition By Bennett Coleman Disposed Of
The dispute regarding warrant conversion between Lords Mark Industries Limited and Bennett Coleman and Co. Ltd. was resolved on June 1, 2026, after the petition filed by Bennett Coleman and Co. Ltd. before the High Court of Delhi was dismissed as withdrawn. The settlement confirmed that Lords Mark Industries (LMIL) would issue 10,28,483 equity shares to BCCL at a conversion price of Rs. 158 per share.The petition, filed by Bennett Coleman and Co. Ltd. (BCCL) under the Arbitration and Conciliation Act, 1996, sought interim relief regarding the conversion of warrants subscribed by BCCL under the Share Cum Warrant Subscription Agreement dated August 1, 2023, and the proposed listing and commencement of trading of LMIL's equity shares.
During the court proceedings, it was established that no adverse order had been passed against LMIL. The matter stemmed from the original SWA executed between BCCL and LMIL.
Subscription Agreement Details
The financial terms of the Share Cum Warrant Subscription Agreement (SWA), executed on August 1, 2023, are detailed below:| Component | Detail |
|---|---|
| Warrants Subscribed | 5 convertible warrants |
| Equity Shares Subscribed | 1 equity share |
| Agreed Conversion Price | Rs. 158 per share |
| Aggregate Value of Warrants | Rs. 13,00,00,000/- (Thirteen Crores Only) |
| Subscription Amount Paid (Warrants) | Rs. 1,30,00,000/- |
LMIL confirmed its commitment to the terms of the SWA and acknowledged BCCL's entitlement to 10,28,483 equity shares upon warrant conversion at the agreed value of Rs. 158 per share.
The resolution reached in the High Court established that LMIL would promptly provide all necessary documents related to the SWA within three days of the petition's disposal. Furthermore, LMIL committed to ensuring that BCCL’s rights and entitlements arising from the SWA were fully disclosed to the Monitoring Committee of the Resolution Plan.
As part of the amicable resolution, it was agreed that BCCL would withdraw O.M.P (I) (COMM) DIARY NO. 240259 OF 2026 in line with the contents of the communication provided by LMIL. Consequently, the petition filed by Bennett Coleman and Co. Ltd. against Lords Mark Industries Limited and others was dismissed as withdrawn on June 1, 2026.
Stock Price Movement
Lords Mark Industries Ltd shares settled at ₹669.70 on Thursday, ticking up 4.99% with an absolute gain of ₹31.85. The stock traded completely flat throughout the session, as both the intraday high and low remained locked at ₹669.70.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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