Regulatory29 Apr 2026, 04:09 pm
Megastar Foods: ₹36.68 Cr Alleged Fee Demand Quashed by Mandi Board
AI Summary
Megastar Foods Ltd received a follow-up update regarding a notice from the Market Committee, Rupnagar, concerning alleged non-payment of Market Committee Fee and RDF Fee totaling ₹36.68 crore. Following the company's representation, the Punjab State Agricultural Marketing Board (Mandi Board) found the allegations baseless and unjustified. The Mandi Board has quashed the original notice and directed the Market Committee, Rupnagar, to dispose of the matter. This resolution absolves Megastar Foods of the significant financial obligations, ensuring no expected impact on its financial, operational, or other activities.
Key Highlights
- Allegations of non-payment of ₹36.68 Cr Market Committee and RDF fees quashed.
- Punjab State Agricultural Marketing Board found claims against the company baseless.
- Company is absolved of significant financial obligations.
- No expected impact on Megastar Foods' financials or operations.