Court Acquits Company in 2014 Cheque Dishonour Case of Rs. 3,00,00,000
Gandhar Oil received a court order dated September 23, 2026 in a 2014 cheque-dishonour complaint (Sections 138/141, NI Act) shared by Shri Saptashringi Ispat Pvt Ltd over cheques totalling Rs. 3,00,00,000.
- Case Number
- S.C.C. No. 301992/2014
- Court Order Date
- September 23, 2026
- Cheque Amount in Dispute
- Rs. 3,00,00,000
- Outcome
- Acquitted under Section 256 CrPC; proceedings stopped
- Monetary Liability
- No compensation, penalty or monetary liability imposed
What happened
The Company received an order dated September 23, 2026 from the Court of the Addl. Chief Judicial Magistrate, Court No. 11, Nashik in S.C.C. No. 301992/2014.
Background
- Complainant: Shri Saptashringi Ispat Private Limited.
- Complaint shared in 2014 under Sections 138 and 141 of the Negotiable Instruments Act, 1881 against the Company, its promoters and certain promoter group members.
- Allegation: dishonour of cheques aggregating to Rs. 3,00,00,000.
- The matter had been disclosed under "Outstanding Litigation and Material Developments" in the Company's Prospectus dated November 25, 2023.
Outcome
The Court noted the repeated absence of the Complainant and its advocate, and that no adjournment application was shared. It acquitted the accused under Section 256 of the Code of Criminal Procedure, 1973 and stopped the proceedings.
Financial impact
No compensation, penalty or other monetary liability has been imposed on the Company by this order. Quantum of claims is stated as Not Applicable.
How investors may read it
A long-pending matter that was flagged at the time of the IPO has concluded without any monetary liability on the Company. The acquittal arose from the complainant's non-appearance rather than a ruling on the merits of the dispute.
Also from Gandhar Oil Refinery (India)
CRISIL reaffirms Crisil A+/Stable and A1; rated bank facilities enhanced to Rs.1014 crore
30 Sep 2026
More numbers
- Cheques allegedly dishonoured (aggregate)Rs. 3,00,00,000
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.