Libas Consumer Products: Bombay HC Vacates Non-Bailable Warrant Against Promoter Riyaz Ganji
Bombay High Court vacated the Non-Bailable Warrant against Libas Consumer Products' Promoter, Riyaz Ganji, on April 22, 2026. Mr. Ganji will pay ₹2.2 crore for full and final settlement of claims with G S Majestic Developers Pvt. Ltd. This follows an earlier warrant issued on April 7, 2026.
The resolution of a legal issue involving a key promoter and director, with a settlement amount of ₹2.2 crore, can positively impact investor confidence and reduce operational uncertainty, though it is not a direct financial result.
The vacating of a non-bailable warrant against a promoter and director is a positive development for the company, removing a significant legal encumbrance and potential disruption.
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, who is a Promoter and Director of the company. This decision follows the signing of consent terms, as referenced in a prior announcement on April 7, 2026.
As per the terms 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.
The company has informed the stock exchange of this development and requested that the intimation be taken on record. The announcement was made by Riyaz Eqbal Ahmed Ganji, Managing Director, on April 24, 2026, from Mumbai.
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.