Libas Consumer Products Limited has informed the Exchange about orders passed by the Bombay High Court vacating non-bailable warrant issued against Mr. Riyaz Ganji.
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The Bombay High Court vacated a non-bailable warrant that had been issued against Mr. Riyaz Ganji, the Promoter and Managing Director of Libas Consumer Products Limited. The warrant was vacated after consent terms were signed between the parties. Under the settlement, Mr. Ganji agreed to pay ₹2.2 crore to G S Majestic Developers Pvt. Ltd. as full and final settlement of all claims. The original warrant was announced on April 7, 2026, and the court order was passed on April 22, 2026. This resolves the legal proceeding against the company's director.
The resolution of this legal matter removes uncertainty around the company's management. The settlement cost of ₹2.2 crore falls on Mr. Ganji personally rather than the company, limiting direct financial impact on Libas Consumer Products.