Fashion Designer Riyaz Gangji Faces Non-Bailable Warrant for Alleged Default
Designer Riyaz Gangji Faces Non-Bailable Warrant Over Alleged Default
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The Bombay High Court has issued a non-bailable warrant against Riyaz Gangji, the founder of apparel brand LIBAS, for allegedly defaulting on a ₹5 crore (approximately $600,000 USD) payment to a real estate company. The court criticized Gangji's repeated non-compliance and imposed restrictions on LIBAS's assets pending further proceedings.
- 01Riyaz Gangji faces a non-bailable warrant issued by the Bombay High Court.
- 02The warrant is related to a ₹5 crore (approximately $600,000 USD) default involving a real estate company.
- 03The court criticized Gangji for repeated non-compliance with its orders.
- 04An injunction has been imposed on LIBAS, restricting asset dealings.
- 05Gangji has a history of disputes over non-payment and has faced similar allegations in the past.
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The Bombay High Court in Mumbai has issued a non-bailable warrant against fashion designer Riyaz Gangji, founder of the apparel brand LIBAS, due to an alleged default of ₹5 crore (approximately $600,000 USD) involving a Ludhiana-based real estate company. The court's decision follows Gangji's failure to comply with previous directives and payment commitments, which the court deemed as a blatant disregard for the judicial process. In addition to the warrant, the court has placed a sweeping injunction on LIBAS, preventing the company and its directors from dealing with any of its assets until further notice. This contempt petition arose after the complainant sought legal recourse when civil remedies failed to yield results. Gangji has a history of disputes regarding non-payment and has faced multiple cheating cases in Mumbai related to similar allegations. The matter is set for further hearing once Gangji is produced in court.
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The legal troubles faced by Riyaz Gangji may affect the operations of LIBAS and its employees, potentially leading to financial instability for the brand.
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