NCLT Issues Notice in Nuway Organic Naturals Insolvency Dispute

Excise and Taxation Department files application challenging asset valuation and Resolution Plan approval in Nuway Organic Naturals' insolvency.
Department claims plant and machinery are in its possession, arguing valuation could not proceed without physical access to assets.
Resolution Professional cites CoC meeting minutes showing permission was granted for valuer inspection, enabling the valuation to be completed.
NCLT Chandigarh Bench issues notice to Resolution Professional, lists matter for further hearing on 10.04.2026.