Sundrop Brands Ltd Ordered to Pay Surcharge on Provident Fund based on Investment Pattern Deviation
Sundrop Brands Ltd, formerly known as Agro Tech Foods Limited, has been directed by a regulatory authority to remit a surcharge amount following an order related to the investment pattern of its provident fund. The Company received the Notice-cum-Order for the levy of a surcharge amounting to Rs. 2,93,727/- from the Office of the Regional P.F. Commissioner II in Kukatpally, Hyderabad.The Surcharge was levied against the Agro Tech Foods Provident Fund concerning Financial Year (FY) 2023-24. This action resulted from minor inadvertent deviations identified in the category-wise investments made by the PF Trust during that fiscal year, although the Investments were generally in line with guidelines prescribed by the Employee Provident Fund Organisation (EPFO).
The Company subsequently submitted representations to the Authority seeking a waiver of the levied surcharge. However, on June 24, 2026, the Authority issued a rejection letter regarding the request for the waiver. Sundrop Brands Ltd received this rejection notice on June 25, 2026.
The Authority has directed the Company to remit the Surcharge amount within seven days of receiving the order. While the levy represents a financial commitment, management stated that there will be no material impact on the operations or other activities of Sundrop Brands Ltd.
SUNDROP Stock Price Movement
On Thursday, shares of Sundrop Brands Limited rallied, closing at ₹661.75 after gaining 2.31%. The equity traded on a volume of 3,464 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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