Jagran Media seeks removal of eight directors; voting dispute cited

New Delhi: Jagran Prakashan (JPL) has informed stock exchanges that its holding company, Jagran Media Network (JMNIPL), has issued a special notice seeking the removal of seven independent directors and whole-time director Satish Chandra Mishra.

The independent directors named in the notice are Divya Karani, Shailendra Swarup, Anita Nayyar, Kemisha Soni, Pramod Agarwal, Shaalin Tandon and Arun Anant. The notice also proposes Mishra’s removal from his office as whole-time director.

The notice also seeks an extraordinary general meeting (EGM) to consider the proposed removals.

JPL said its board discussed the special notice and the EGM request at its meeting on February 12, 2026.

It said the “sole reason” cited in the notice is that the concerned directors were “not validly appointed”, alleging that Mahendra Mohan Gupta did not exercise JMNIPL’s voting rights in the manner decided by JMNIPL’s board.

JPL also said it received a letter dated February 12, 2026, from Mahendra Mohan Gupta, the non-executive chairman of both JMNIPL and JPL.

In the letter, Gupta said the scope and exercise of voting on behalf of JMNIPL is sub judice before the National Company Law Tribunal (NCLT), Allahabad Bench, in two company petitions: “Mahendra Mohan Gupta and Ors. v. Devendra Mohan Gupta and Ors., C.P. No. 64 of 2023” and “Shailendra Mohan Gupta and Ors. v. Jagran Media Network Investment Private Limited, C.P. No. 57 of 2025”.

In view of this, JPL said its board has decided to take appropriate legal steps while dealing with and responding to the special notice and the EGM request. It said it will make further disclosures as required under law.

The disclosure was made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements and was signed by Amit Jaiswal, Chief Financial Officer and Company Secretary.