Bombay High Court vacates Non-Bailable Warrant Against Libas Consumer Product Director Riyaz Ganji
Bombay High Court vacates Non-Bailable Warrant Against Libas Consumer Product Director Riyaz Ganji
The Bombay High Court has vacated Non-Bailable Warrent Against Libas Consumer Product Director Riyaz Ganji After Settlement of Rs 2.2 Crore with GS Majestic Developers Pvt. Ltd.
The announcement from Libas Consumer Products Limited is a formal communication to the National Stock Exchange of India regarding a material development with its promoter and officer, Mr. Riyaz Ganji. Earlier, on April 7, 2026, the company mentioned the details of the issuance of a non-bailable warrant against Mr Ganji. Subsequently, the warrant was vacated on April 22, 2026 (in the case of Bombay High Court proceedings), after both parties agreed to the terms of the consent.
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As per the consent terms, Mr Ganji has agreed to settle the claims of GS Majestic Developers Pvt. Ltd for a sum of Rs 2.2 crore (Rupees Two Crore Twenty Lakh). This payment has also settled the claims and the said warrant.
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This announcement is primarily intended to address the legality of the warrant against Mr Ganji and, in doing so, to inform the stakeholders of the company that the claims have been settled and also the liability for the warrant has been legally and financially settled.