Megastar Foods Ltd Issues Correction Regarding Market Committee Fee Notice
Megastar Foods Ltd has clarified details concerning a notice received from the Market Committee, Rupnagar, relating to alleged non-payment of Market Committee Fee and RDF Fee. The company issued a revised intimation to correct an unintentional error in the financial amounts previously reported.The notice, dated April 9, 2026, was received by Megastar Foods Ltd on April 13, 2026. The correction pertains to the financial amounts stipulated for the Market Committee Fee and the RDF Fee. The initial disclosure mistakenly stated these amounts as Rs. 36,568,59,110/-, whereas the correct figure is Rs. 36,68,59,110/- for both fees.
The revised details regarding the notice from the authority are structured as follows:
| Particulars | Details |
|---|---|
| Authority Name | Market Committee, Rupnagar |
| Nature of Action | Notice concerning alleged non payment of Market Committee Fee and RDF Fee. |
| Date of Receipt | The notice dated 09.04.2026 was received by the Company on 13.04.2026. |
| Alleged Violation | The notice alleges non payment of Market Committee Fee and RDF Fee due to not procuring an appropriate license from the Market Committee, Rupnagar. |
| Quantified Impact | The notice claims required payments of Rs. 36,68,59,110/- for Market Committee Fee and Rs. 36,68,59,110/- for RDF Fee. |
Regarding the implications of the notice, Megastar Foods Ltd stated that the company has already obtained the necessary license from the Punjab State Agricultural Marketing Board (Mandi Board, SAS Nagar, Mohali), which is the appropriate Licensing Authority for the purchase, sale, storage, and processing of agricultural produce, and this license is valid until March 31, 2030.
The company plans to approach the Punjab State Agricultural Marketing Board to address the matter and initiate appropriate legal recourse, expressing hope for a favorable outcome. Megastar Foods Ltd highlighted that, as per prevalent state laws, market fee and RDF is not applicable to any Processing Unit in Punjab, making the company not liable for such payments. The firm added that the notice is not expected to have any immediate financial impact, and the eventual monetary impact will depend on the outcome of the adjudication proceedings.
Stock Price Movement
As of 10:59, shares of Megastar Foods Ltd are ticking up, currently sitting at ₹280.60, reflecting a gain of 0.48%. Throughout the session, the stock has fluctuated, finding support near its low of ₹280.60 after testing the ₹282.50 high.Source:
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