MAM
Jagran Prakashan seeks removal of seven independent, one whole-time director
Seven independent directors and full-time director Satish Chandra Mishra face removal under special notice
NEW DELHI: A governance tussle has intensified at Jagran Prakashan Limited, after its holding company moved to remove a majority of the board. In a stock exchange filing dated 12 February, 2026, the company disclosed that Jagran Media Network Private Limited has issued a special notice seeking the removal of seven independent directors and one whole-time director.
The independent directors proposed for removal are Divya Karani, Shailendra Swarup, Anita Nayyar, Kemisha Soni, Pramod Agarwal, Shalin Tandon and Arun Anant. The notice also seeks the ouster of full-time director Satish Chandra Mishra. An extraordinary general meeting has been convened to consider the resolutions.
The holding company has alleged that the directors were not appointed in accordance with due process. It further claimed that the company’s chairman, Mahendra Mohan Gupta, failed to exercise voting rights in line with directions issued by the JMNIPL board.
Gupta, in a separate communication to the board on 12 February, said the voting rights dispute is already under adjudication before the National Company Law Tribunal, Allahabad bench. Two company petitions linked to the matter are currently pending before the tribunal.
The special notice was taken up at the board meeting held the same day. The company said its board would take all necessary and appropriate steps in accordance with applicable law.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
