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Golden Tobacco has received a stay order from the High Court of Guwahati against an excise department claim. The company had been served a demand notice of ₹121.55 crore by the Central Excise Department, Guwahati (Assam), in the matter of North East Tobacco Co Ltd. The company is also taking legal opinion with respect to a notice issued by a consortium of bankers (except Allahabad Bank), who had declared the company’s account as non-performing asset and served notice under the Sarfaesi Act. Shares of Golden Tobacco slipped 0.85 per cent at ₹40.65 on the BSE.
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