Legal Proceedings Update

Case CP No. 64 of 2023

Hearing Date: June 1, 2026

Tribunal: National Company Law Tribunal, Allahabad Bench

Bench Composition: Shri Praveen Gupta (Member Judicial) and Shri Ashish Verma (Member Technical)

Proceedings: The matter was listed for arguments by senior counsel appearing on behalf of Respondent Nos. 3, 9 and 10. Shri Jayant Mehta, Senior Advocate, commenced his arguments on behalf of these respondents.

Outcome: The Bench re-notified the matter to July 8, 2026 at 12:30 p.m. for further arguments on behalf of Respondent Nos. 3, 9 and 10. The bench recorded that counsels representing all parties would make an endeavor to argue the matters on a day-to-day basis.

Case CP No. 57 of 2025

Hearing Date: June 1, 2026

Tribunal: National Company Law Tribunal, Allahabad Bench

Bench Composition: Same as above

Proceedings: At the request made by learned counsels representing the parties.

Outcome: The matter was adjourned for further hearing on July 8, 2026, at 12:30 p.m.

Legal Framework

Both company petitions are filed under Sections 241/242 and 244 of the Companies Act, 2013, which deal with oppression and mismanagement provisions.

Representation Details

For CP No. 64/2023

  • Sh. Rajat Jariwal with Ms. Aayushi Khurana, Ms. Angelika Awasthi & Sh. Manish Barrua & Sh. Varad Nath: For the Petitioner in main CP
  • Ms. Ruby Singh Ahuja: For the Respondent No.5 &12 in main CP and Applicants in CA No.52/2023
  • Sh. Darius Khambata, Sr. Adv. assisted by Ms. Ruchira Gupta with Ms. Yashika Sharma: For JMNIPL
  • Ms. Anusha Nagarajan with Ms. Aakanksha Bhola, Sh. Manav Saluja & Sh. Shubham Aggarwal: For Respondent No.19
  • Sh. Jayant Mehta, Sr. Adv. assisted by Ms. Taniya Pandey, Sh. Satish Kishanchandani, Sh. Sohil Shah, Sh. Om Shelat and Ms. Anushka Panchmatia: For Respondent Nos. 3, 9 and 10

For CP No. 57/2025

  • Ms. Anusha Nagarajan with Ms. Aakanksha Bhola, Sh. Manav Saluja & Sh. Shubham Aggarwal: For Respondent No.2
  • Sh. Darius Khambata, Sr. Adv. assisted by Ms. Ruchira Gupta with Ms. Yashika Sharma: For JMNIPL
  • Sh. Rajat Jariwal with Ms. Aayushi Khurana, Ms. Angelika Awasthi & Sh. Manish Barrua & Sh. Varad Nath: For Respondent No.1
  • Ms. Ruby Singh Ahuja with Sh. Vishal Gehrana, Sh. Arjun Sharma, Ms. Megha Dugar, Sh. Piyush Sharma, Ms. Sarah Ayreen Mir & Sh. Yashonidhi Shukla: For Respondent Nos.6 to 19

Additional Information

Copies of the orders dated June 1, 2026 (uploaded on June 3, 2026) were annexed with the disclosure. The company committed to providing further updates when material developments occur in the proceedings.

Disclosure Compliance

The information is being disseminated to both National Stock Exchange of India Ltd. and BSE Limited, and will also be uploaded on the company's corporate website (www.jplcorp.in) and the exchange websites.