Resignation of statutory Auditor.
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M/s Valawat & Associates has resigned as the Statutory Auditor of Elegant Floriculture & Agrotech (India) Limited, effective from the close of business on November 12, 2025. The auditor had served the company for over 3 years. In its resignation letter, the firm cited growing business complexity and heavier compliance demands, along with a request for higher audit fees that was not accepted by the management, as reasons for stepping down. The board has noted the resignation and recorded its appreciation for the auditor's services. No replacement auditor has been announced yet.
An unexpected mid-term auditor exit, especially one linked to a fee dispute, can raise governance concerns among shareholders and may create a short period without a statutory auditor until a new one is appointed. Investors should watch for the appointment of a new auditor and any further disclosures.