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.

Megastar Foods Limited has issued a revised disclosure under Regulation 30 of the SEBI Listing Regulations to correct an unintentional error in the amounts mentioned in its previous announcement regarding a notice from Market Committee, Rupnagar. The company filed the corrected disclosure on April 15, 2026, addressing alleged non-payment of regulatory fees.

Correction of Fee Amounts

The revised disclosure pertains to correction of amounts in the Market Committee Fee and RDF Fee raised in the notice. The company clarified that the original disclosure incorrectly stated the amounts as Rs. 36,568,59,110/- instead of the correct amount of Rs. 36,68,59,110/- for both fees.

Notice Details and Timeline

The Market Committee, Rupnagar issued the notice dated April 9, 2026, which was received by the company on April 13, 2026. The notice alleges violations related to licensing requirements and consequent fee payments. The original disclosure under Regulation 30 was filed within the prescribed time period on April 14, 2026.

Company's Legal Position Remains Unchanged

Despite the correction in amounts, Megastar Foods maintains its original position regarding the notice. The company's assessment reveals:

Regulatory Compliance and Response Strategy

The company continues to emphasize its compliance with applicable statutes and has outlined its response approach. As per prevalent state laws, market fee and RDF are not applicable to processing units in Punjab, and Megastar Foods Limited, being a processing unit, claims exemption from such payments.

• Planned Action: Approaching Punjab State Agricultural Marketing Board to address the matter
• Legal Recourse: Company plans to pursue appropriate legal measures
• Expected Impact: No immediate financial impact anticipated
• Future Impact: Depends on adjudication proceedings outcome

The corrected disclosure maintains that the company is hopeful of a favourable outcome based on its existing licensing arrangements and legal position regarding processing unit exemptions under Punjab state laws.