Legal30 Apr 2026, 12:47 pm
JPL: NCLT dismisses applications, vacates EGM abeyance order
AI Summary
Jagran Prakashan Ltd (JPL) announced that the Hon'ble National Company Law Tribunal (NCLT) Allahabad has dismissed applications (C.A. Nos. 04, 05, and 06 of 2026) filed by Jagran Media Network Investment Private Limited (JMNIPL). These applications were related to a special notice for the removal of 7 Independent Directors and 1 Whole-Time Director from JPL. The NCLT also vacated its interim order dated February 27, 2026, which had kept the requisition for an Extra-ordinary General Meeting (EGM) in abeyance. The NCLT's order, dated April 23, 2026, allows the parties to proceed in accordance with the provisions of the Companies Act, 2013. JPL stated it will take appropriate legal steps.
Key Highlights
- NCLT dismissed applications regarding director removal and EGM requisition.
- Interim order keeping the Extra-ordinary General Meeting in abeyance is vacated.
- Parties are now at liberty to proceed under the Companies Act, 2013.
- Jagran Prakashan Ltd will take appropriate legal steps as per advice.