Bombay High Court Vacates Non-Bailable Warrant Against Libas Consumer Products Promoter
The Bombay High Court has vacated the Non-Bailable Warrant (NBW) issued against Mr. Riyaz Ganji, Promoter and Director of Libas Consumer Products Limited. The order, issued on April 22, 2026, followed the signing of specific consent terms.The vacation of the warrant was achieved through a settlement framework established before the court. As part of the consent terms, Mr. Ganji committed to paying a full and final settlement amount related to claims made by G S Majestic Developers Pvt. Ltd.
The total settlement amount agreed upon was ₹ 2,20,00,000.00.
The financial details of the settlement are as follows:
| Settlement Party | Amount | Amount in Words | Purpose |
|---|---|---|---|
| G S Majestic Developers Pvt. Ltd. | ₹ 2,20,00,000.00 | Rupees Two crore twenty lakh | Full and final settlement of all claims |
This resolution marks the conclusion of the legal matter concerning the issuance of the NBW, which had been initially announced by the company on April 7, 2026.
LIBAS Stock Price Movement
Shares of Libas Consumer Products Limited are edging higher to ₹11.6 as of 12:21 PM today, registering a solid 1.31% gain this morning. The stock is experiencing active momentum, with 3,770 shares changing hands in live trading so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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