Megastar Foods Limited has intimated the stock exchanges about the resignation of Ms. Deepali Chhabra from the position of Company Secretary and Compliance Officer, a Key Managerial Personnel of the company. The disclosure was made pursuant to Regulation 30, read with Para A, Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, vide communication dated May 05, 2026, signed by Vikas Gupta, Whole-time Director.

Key Details of the Resignation

The following details of the change in Key Managerial Personnel have been disclosed as required under Regulation 30 of the SEBI Listing Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024:

Resignation Communication

Ms. Deepali Chhabra, in her resignation letter addressed to the Board of Directors of Megastar Foods Limited and dated May 05, 2026, stated that she was tendering her resignation from the position of Company Secretary and Compliance Officer with effect from May 05, 2026, owing to personal reasons. She confirmed her commitment to ensuring a smooth handover of all responsibilities, records, and ongoing assignments during the transition period. The resignation was accepted by the HR Department of Megastar Foods Limited, with a note that all dues would be settled as per the company's policy and the terms and conditions of the appointment letter.

Regulatory Compliance

The intimation was filed with both BSE Limited and the National Stock Exchange of India Limited in compliance with applicable SEBI listing regulations. The disclosure was accompanied by Annexure A, containing the requisite details as mandated under the relevant provisions of the SEBI Listing Regulations, 2015. Megastar Foods Limited is headquartered at Plot No. 807, Industrial Area, Phase-II, Chandigarh-160102, with its works located at Kurali-Ropar Road, Village Solkhian-140108, Distt. Rupnagar, Punjab.

megastar foods Limited has informed the stock exchanges that the Punjab State Agricultural Marketing Board, operating as the Licensing Authority from SAS Nagar, Mohali, has quashed the notice previously issued by Market Committee, Rupnagar. The regulatory filing submitted under Regulation 30 of SEBI Listing Regulations dated April 29, 2026, provides details of this development.

The company had initially disclosed the receipt of a notice from Market Committee, Rupnagar on April 14, 2026, with a revised announcement filed on April 15, 2026. The notice had alleged non-payment of Market Committee Fee and RDF Fee, demanding substantial amounts from the company. Following a representation made by Megastar Foods to the Punjab State Agricultural Marketing Board, the authority reviewed the matter and issued its decision.

Details of the Quashed Notice

The Punjab State Agricultural Marketing Board examined the allegations and determined that the claims made and the demand raised by Market Committee, Rupnagar were baseless and unjustified. Consequently, the board quashed the notice and issued directions to Market Committee, Rupnagar to dispose of the matter entirely. The company received this intimation via email on April 28, 2026.

Financial Implications

As per the directions of the Licensing Authority, Megastar Foods is expected to be fully absolved of all financial obligations and implications in the form of Market Committee Fee and RDF levied by Market Committee, Rupnagar. The company stated that there is not expected to be any impact on its financial, operational, or other activities as a result of this development.

The regulatory disclosure was signed by Deepali Chhabra, Company Secretary & Compliance Officer of Megastar Foods Limited, and submitted to both BSE Limited and National Stock Exchange of India Limited for their information and records.