Ganesh Benzoplast has won a case filed u/s 138 of the Negotiable Instruments Act, 1881, against Pan Asia Industries, for recovery of outstanding dues of Rs 5.50 crore plus interest. The Court passed an order directing Pan Asia Industries (the defaulter) to pay a sum of Rs 9.00 crore to Ganesh Benzoplast.
The company has further filed an Enhancement Application before the Session Court, Mumbai for increasing the compensation amount to Rs 11.00 crores i.e double the Cheque amount, which will be heard on October 09, 2017. The Court has also directed the defaulter to deposit 10% of the amount before contesting the appeal.
Ganesh Benzoplast is engaged in the manufacturing and exporting of drug intermediates, pharmaceutical intermediates, bulk drug intermediates, food preservatives, lubricants, API/bulk drug, etc.
