Corporate News
Raymond Realty's Joint Statutory Auditor Chaturvedi & Shah Resigns Over Fee Dispute
Chaturvedi & Shah LLP resigned as one of two joint statutory auditors of Raymond Realty Limited, effective 28 October 2026, after the two sides could not agree on revised audit fees. Walker Chandiok & Co. LLP continues as the remaining statutory auditor.
| Company | Raymond Realty Limited, listed on BSE (544420) and NSE (RAYMONDREL) |
|---|---|
| Resigning auditor | Chaturvedi & Shah LLP, Chartered Accountants, one of the joint statutory auditors |
| Effective date of resignation | 28 October 2026 |
| Stated reason | Unresolved disagreement over revised audit fees for an expanded scope of work and regulatory requirements |
| Fee increase request | Declined by management in late August 2026 |
| Continuing auditor | Walker Chandiok & Co. LLP, 16th Floor, Tower III, One International Center, S B Marg, Prabhadevi (W), Mumbai 400013 |
| Filing type | Regulation 30 (LODR) announcement of resignation of statutory auditors, dated 28 October 2026 |
What happened
Raymond Realty Limited has announced that Chaturvedi & Shah LLP, one of its joint statutory auditors, resigned from the role. The resignation took effect on 28 October 2026. The company disclosed it under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR).
Walker Chandiok & Co. LLP remains as the company's statutory auditor. The company's June 2025 Information Memorandum had listed both firms as joint auditors, with Walker Chandiok's appointment dated 5 May 2025.
Why the auditor stepped down
The exit followed a disagreement on fees. According to Whalesbook's reporting, the auditor asked for higher audit fees, citing a larger workload and greater responsibilities as a listed entity. The firm said it could not agree on revised audit fees that matched the expanded scope and regulatory requirements.
Management declined the fee-increase request in late August 2026. The firm then decided to step down. The reports do not give a fee amount, a revised fee figure or the size of the audit.
The company's position on governance
Whalesbook's English report says the company confirmed there were no material governance or accounting concerns linked to the exit. A Hinglish version of the same report places the statement that the matter did not involve governance or accounting issues in the context of the Audit Committee not needing to intervene. Either way, the reported cause is commercial and not a finding against the company's accounts.
Whalesbook's analysis also notes that auditor exits often draw investor attention to corporate governance. That is a general observation in the report and not a finding about this case.
What it means for buyers and investors
For investors, the filing is the key document. It shows a change in the company's audit arrangement, with one of two joint auditors leaving over fees. The continuing auditor is Walker Chandiok & Co. LLP, which had already been part of the audit team since 2025.
For home buyers, the reports do not link the exit to project delivery, launches or sales. The filing concerns the audit of the company's accounts, not any specific project.
Background on the company
Raymond Realty was the real estate arm of Raymond Ltd before its demerger. The Information Memorandum dated 24 June 2025 describes the company as a real estate developer with a Mumbai and Thane focus, operating in part through joint development agreements. The company's Mumbai pipeline includes joint development projects in Mahim, Sion and Bandra East, announced in 2024.
What comes next
No next step with a date has been announced in the reports. Whalesbook notes that investors should watch for company announcements on whether it will appoint a new auditor to return to a joint-audit structure, or continue with a single statutory auditor. That is commentary in the report and not a company commitment.
As of 31 October 2026, Walker Chandiok & Co. LLP is the only statutory auditor named in the company's filings for this period.
Frequently asked questions
Who resigned as auditor of Raymond Realty?
Chaturvedi & Shah LLP, Chartered Accountants, resigned as one of the company's joint statutory auditors. The resignation took effect on 28 October 2026.
Why did the auditor resign?
The reports cite a disagreement over revised audit fees. The auditor sought higher fees for a larger workload and greater responsibilities as a listed entity. Management declined the increase in late August 2026.
Who is the remaining auditor?
Walker Chandiok & Co. LLP continues as the company's statutory auditor. Its Mumbai office is at 16th Floor, Tower III, One International Center, S B Marg, Prabhadevi (W), Mumbai 400013.
Does the company say there are governance or accounting problems?
Whalesbook's English report says the company confirmed there were no material governance or accounting concerns. The reports describe the dispute as commercial.
Will the company appoint a new auditor?
No date has been announced. Whalesbook notes that investors should watch for company announcements on whether a new joint auditor will be appointed or the company will continue with one statutory auditor.