Lord's Mark Industries Limited (BSE: 501261) has formally confirmed the entitlement of Bennett Coleman and Co. Ltd. (BCCL) to 10,28,483 equity shares at a conversion price of ₹158 per share, resolving a legal dispute amicably. The confirmation honors the terms of the Share Cum Warrant Subscription Agreement (SWA) dated August 1, 2023.
Legal Dispute Resolution
The Hon'ble High Court of Delhi disposed of the matter on June 1, 2026, with no adverse order passed against the Company. The dispute originated from BCCL's petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim reliefs related to warrant conversion. The delay in conversion was attributed to LMIL's ongoing merger and capital restructuring process, which involved the pre-packaged insolvency resolution of Kratos Energy and Infrastructure Limited (KEIL) and its subsequent merger with LMIL, culminating in a BSE listing approval in May 2026.
Proactive Measures by LMIL
Rather than awaiting adversarial proceedings, LMIL took proactive steps to address BCCL's concerns before the hearing. The Company formally confirmed BCCL's entitlement and committed to disclosing this to the Monitoring Committee overseeing the Resolution Plan's implementation. Consequently, BCCL withdrew the petition, and the Court disposed of the matter accordingly.
Commenting on the development, the management of Lord’s Mark Industries Limited stated: "We welcome the resolution of this matter through constructive dialogue and mutual understanding. The Company remains committed to maintaining the highest standards of governance, transparency, and compliance while safeguarding stakeholder interests. We will continue to undertake all necessary actions in accordance with applicable laws and our contractual obligations."
Commitment to Transparency
Lord’s Mark Industries Limited has reaffirmed its commitment to transparency and regulatory compliance. The Company has agreed to make all requisite disclosures to regulators, shareholders, and other stakeholders. It has further confirmed that all relevant information and supporting documentation will be shared with the Monitoring Committee overseeing the implementation of the resolution plan. Pursuant to the amicable resolution, the petition filed before the Delhi High Court has been withdrawn, and the matter stands dismissed as withdrawn.
For more details, visit the company's official website.
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