NCLT Directs Suspension of EGM Resolutions in Jagran Prakashan Ltd Petition
The National Company Law Tribunal (NCLT), Allahabad Bench, has ruled that the implementation of resolutions passed during an Extraordinary General Meeting (EGM) held by Jagran Prakashan Limited (JPL) must be kept in abeyance until a related petition before the tribunal is decided.The directive comes in the ongoing matter titled Mahendra Mohan Gupta and Ors. versus Devendra Mohan Gupta and Ors., corresponding to Company Petition No. 64 of 2023, heard under Sections 241/242 and 244 of the Companies Act, 2013.
During the hearing concerning Interlocutory Application (IA) No. 57 of 2026, the tribunal addressed an appeal that referenced an earlier order dated May 26, 2026, passed by the NCLAT. The court noted that the company had initiated the process of holding the EGM on May 29, 2026, and subsequently called for representation from seven independent directors and one whole-time director.
The tribunal determined that, pending the resolution of the main petition (CP No. 64/2023), the implementation of the resolutions passed at the EGM held on May 29, 2026, must be kept in abeyance. This ruling is tied to the determination of Article 4.1 of the Articles of Respondent No. 21 company and Article 2.3 of the Articles of JPL, along with subsequent developments that led to the withdrawal of Company Appeal (AT) No. 187/2026.
The application was scheduled for a further hearing on July 8, 2026, at 12:30 PM, alongside the main matter and other applications.
Key details from the NCLT proceeding are summarized below:
| Detail | Information |
|---|---|
| Company | Jagran Prakashan Ltd |
| Petition No. | C.P. No. 64 of 2023 |
| Interlocutory Application (IA) | IA No. 57/2026 |
| Order Date | June 9, 2026 |
| Key Directive | Implementation of EGM resolutions held on May 29, 2026, is kept in abeyance pending the outcome of the petition. |
| Next Hearing Date | July 8, 2026 |
JAGRAN Stock Price Movement
On Tuesday, shares of Jagran Prakashan Limited edged higher to close at ₹64.05, marking a gain of 1.58%. The stock traded within the session’s range of ₹63.39 to ₹64.62, with a total volume recorded of 449,674 shares.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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