Gandhar Oil Refinery Acquitted in Cheque Dishonour Case
Gandhar Oil Refinery has been acquitted in a cheque dishonour case filed by Shri Saptashringi Ispat Private Limited. The litigation involved cheques aggregating to ₹3 Crore. The court stopped proceedings due to the complainant's absence. No financial implications or penalties were imposed on the company.
The litigation involved a substantial amount (₹3 Crore), and its resolution, with no penalty imposed, is material for the company's financial standing and investor confidence.
The company has been acquitted in a significant litigation case, which is a positive outcome and removes a potential financial liability.
Gandhar Oil Refinery (India) Limited has received an order dated September 23, 2026, passed by the Court of the Addl. Chief Judicial Magistrate, Court No. 11, Nashik. The case, S.C.C. No. 301992/2014, involved a complaint filed by Shri Saptashringi Ispat Private Limited alleging dishonour of cheques aggregating to ₹3,00,00,000 (Rupees Three Crore).
The complaint was filed in 2014 under Sections 138 and 141 of the Negotiable Instruments Act, 1881. The matter was previously disclosed in the Company’s Prospectus dated November 25, 2023.
Due to the repeated absence of the Complainant and its advocate, and no adjournment application being filed, the Court acquitted the accused under Section 256 of the Code of Criminal Procedure, 1973, and stopped the proceedings. No compensation, penalty, or other monetary liability has been imposed on the Company by this order.
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Gandhar Oil Refinery (India) 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 Gandhar Oil Refinery (India) Limited. Read the original for the full detail.