Bombay HC Vacates Non-Bailable Warrant Against Promoter Riyaz Ganji
The Bombay High Court has vacated the Non-Bailable Warrant against Libas Consumer Products Limited's Promoter, Mr. Riyaz Ganji. Mr. Ganji will pay ₹ 2.20 crore to G S Majestic Developers Pvt. Ltd. as a full and final settlement.
The resolution of a legal issue involving a promoter and director can positively impact investor confidence and reduce operational uncertainty. The settlement amount, while significant, is manageable for a listed entity.
The vacating of a non-bailable warrant against a promoter and director is a positive development, removing a significant legal encumbrance for the company and its leadership.
Libas Consumer Products Limited announced that the Bombay High Court, in an order dated April 22, 2026, has vacated the Non-Bailable Warrant previously issued against Mr. Riyaz Ganji, Promoter and Director of the company. This follows the signing of consent terms, as referenced in the company's earlier announcement on April 7, 2026.
As part of the settlement, Mr. Ganji has agreed to pay ₹ 2,20,00,000 (Rupees Two crore twenty lakh) to G S Majestic Developers Pvt. Ltd. This payment represents the full and final settlement of all claims made by G S Majestic Developers Pvt. Ltd.
The company has requested that this information be taken on record.
What to do with a filing like this
Libas Consumer Products Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Libas Consumer Products Limited. Read the original for the full detail.