Elegant Floriculture & Agrotech (India) Limited has announced the execution of a Memorandum of Understanding (MOU) for the sale of agricultural land to Deep Diamond India Limited. The company informed BSE Limited about this significant transaction on March 05, 2026, in compliance with regulatory disclosure requirements.

Transaction Details

The MOU involves the proposed sale of agricultural land owned by the company to Deep Diamond India Limited. The transaction represents a strategic asset monetization initiative by the floriculture and agrotech company.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive details about the proposed transaction as required under the regulatory framework.

The parties intend to execute and register the Sale Deed upon fulfillment of the conditions precedent and receipt of the balance consideration as per the MOU terms. Since this involves the sale of an asset rather than a business unit, traditional turnover or revenue contribution metrics are not applicable to this transaction.

Company Information

Elegant Floriculture & Agrotech (India) Limited operates in the floriculture and agricultural technology sector. The company is listed on BSE with scrip code 526473 and has its registered office located in Pune, Maharashtra. The disclosure was signed by Mangesh Parashram Gadakh, Whole-time Director of the company.

Strategic Implications

This land sale transaction represents a significant asset divestment for the company, potentially providing substantial capital for business operations or expansion activities. The arms' length nature of the transaction ensures fair valuation and compliance with corporate governance standards.

Elegant Floriculture & Agrotech (India) Limited has announced significant changes in its board composition with the resignation of two directors effective January 24, 2026. The company has informed the Bombay Stock Exchange about these developments in compliance with regulatory requirements under SEBI (LODR) Regulations, 2015.

Director Resignations

The company has witnessed the departure of two key board members on the same date. Both resignations have been attributed to other professional commitments, with the directors expressing appreciation for their tenure with the company.

Regulatory Compliance

The company has fulfilled its disclosure obligations by submitting detailed information to the stock exchange pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification includes comprehensive annexures providing director-specific details as required under SEBI Master Circular dated November 11, 2024.

Resignation Letters

Both directors submitted formal resignation letters to the Board of Directors, requesting acceptance of their resignations and necessary statutory compliance including filing requisite forms with the Registrar of Companies under the Companies Act, 2013. The directors confirmed that there are no material reasons for their resignations beyond the stated professional commitments.

Company Acknowledgment

Elegant Floriculture & Agrotech (India) Limited has thanked both departing directors for their valuable contributions during their respective tenures. The company wishes them success in their future endeavors while ensuring continuity in its operations and governance structure.

The notification was signed by Mangesh Parashram Gadakh, Whole-Time Director (DIN: 09736469), on behalf of the company and has been digitally authenticated for regulatory compliance.