Gandhar Oil acquitted in Rs 3 crore cheque dishonour case, no liability
GANDHAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.0 pts less than Nifty Microcap 250 and 2.4 pts less than its Lubricants peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Gandhar Oil Refinery and its promoters have been acquitted by the Nashik Chief Judicial Magistrate in a 2014 cheque dishonour case. The complainant, Shri Saptashringi Ispat Private Limited, had alleged dishonour of cheques worth Rs 3 crore under the Negotiable Instruments Act against the company, its promoters and certain promoter group members. The court noted the complainant's repeated absence and no adjournment request, then stopped proceedings and acquitted the accused. No penalty or monetary liability has been imposed.
Positive: long-pending case resolved in the company's favour with no financial liability.