Ganesh Benzoplast Ltd receives favorable order from NCLAT in dispute against STC

Ganesh Benzoplast Ltd has received an order from NCLAT in favor of the Company, in the matter of The State Trading Corporation of India (STC), as disclosed under the Contingent Liabilities of the Company.

The order was passed by NATIONAL COMPANY LAW APPELLATE TRIBUNAL, PRINCIPAL BENCH, NEW DELHI on dated April 20, 2023 in favor of the Company by dismissing the appeal filed by STC against the Order of NCLT, Mumbai Bench of dated January 13, 2020, for claiming Rs. 24 Crore in relation to certain disputed transactions pertaining to period 2004-2008.

Shares of GANESH BENZOPLAST LTD. was last trading in BSE at Rs. 169.15 as compared to the previous close of Rs. 168.70. The total number of shares traded during the day was 13096 in over 383 trades.

The stock hit an intraday high of Rs. 171.00 and intraday low of 168.50. The net turnover during the day was Rs. 2222597.00.

Source : Equity Bulls

Keywords

GANESHBENZOPLAST INE388A01029 NCLAT FavorableOrder