Ganesh Benzoplast informed in a BSE filing that it has won a case filed u/s 138 of the Negotiable Instruments Act, 1881, against Pan Asia Industries Limited, for recovery of outstanding dues of Rs 5.50 crore plus interest.
The Hon'ble M. M. 33rd Ballard Pier Court passed an order directing Pan Asia Industries Limited ('the defaulter') to pay a sum of Rs 9.00 crore to Ganesh Benzoplast Limited, it added.
The stock of Ganesh Benzoplast was trading at Rs 96.50 per share, up by Rs 14.25 or 17.33% as at 1417 hours on Friday, on the BSE.
Ganesh Benzoplast is engaged in the manufacture, export and import of a range of specialty chemicals, food preservatives and industrial lubricants. The company also provides conditioned storage facilities for bulk liquids and chemicals at various ports in India.