Revised Declaration under Reg 30 (2) of SEBI LODR regulation read with Clause 20 Part A of Para A of Schedule III, in continuation of the original disclousre filed on 14.04.2026
MEGASTAR · price
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Megastar Foods received a notice from the Market Committee, Rupnagar claiming the company failed to pay Market Committee Fee and RDF (Rural Development Fund) Fee of Rs. 36,68,59,110 each, totalling approximately Rs. 73.37 crore. The notice alleges the company did not procure the appropriate license from the Market Committee. This revised filing corrects a typographical error in the original disclosure (dated 14 April 2026) where the amount was incorrectly stated. The company disputes the notice, stating it already holds a valid license from the Punjab State Agricultural Marketing Board (valid till March 2030) which it considers the appropriate licensing authority, and that processing units in Punjab are exempt from such fees under state law. The company is pursuing legal recourse and expects a favourable outcome.
The company states no immediate financial impact is expected, as the matter pertains to a fee it believes it is not liable for. However, the outcome of adjudication proceedings could affect financials if the claim is upheld.