Five-Star Business Finance Limited announced that Anand Raghavan (DIN: 00243485) has ceased to be an Independent Director effective from the close of business hours on July 27, 2026. The departure marks the end of a decade-long tenure, as Raghavan completed his second consecutive term of five years, reaching the maximum permissible limit for independent directors under Indian corporate governance norms. This routine compliance action ensures adherence to SEBI regulations regarding director tenure caps.

The company disclosed the change pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to both the National Stock Exchange of India Limited and BSE Limited. Vigneshkumar SM, Company Secretary & Compliance Officer, signed the communication, which was digitally dated July 27, 2026. The disclosure also included information required by the SEBI Master Circular dated January 30, 2026.

Tenure Details

Raghavan’s exit is a statutory requirement rather than a voluntary resignation or removal. Independent directors in listed Indian companies are permitted to serve for up to two consecutive terms of five years each. Upon completing this period, they must step down from the board. While they remain eligible for re-appointment after a cooling-off period of three financial years, such re-appointment requires shareholder approval. In this specific disclosure, no appointment or re-appointment was involved.

Regulatory Compliance

The filing confirmed that the reason for the change was the cessation of tenure consequent to the completion of the term. The company stated that there were no relationships between directors to disclose in this context, as the filing pertained solely to the cessation of tenure. The disclosure was hosted on the company’s website at https://fivestargroup.in/compliances/ . Five-Star Business Finance Limited is registered at New No. 27, Old No. 4, Taylor's Road, Kilpauk, Chennai - 600 010. The company’s CIN is L65991TN1984PLC010844.

Five-Star Business Finance Limited has extended the tenure of R. Vijayaraghavan as its Chief Compliance Officer for a period of three years. The Board of Directors approved the extension during a meeting held on July 25, 2026, ensuring continuity in regulatory oversight for the non-banking financial company. The new term is effective from October 1, 2026.

The decision aligns with the Reserve Bank of India circular dated April 11, 2022, read with the RBI (Non-Banking Financial Companies - Governance) Directions. The approval was made based on the recommendations of the Nomination and Remuneration Committee. The company disclosed the development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Tenure and Compliance Details

Vijayaraghavan, who has been associated with Five-Star Business Finance Limited for the last three years, assumed the role of Chief Compliance Officer in October 2023. His extension maintains stability in the company's compliance function, which is critical for an NBFC operating under strict regulatory scrutiny. The disclosure also references SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, regarding the intimation of such events.

Profile of Chief Compliance Officer

R. Vijayaraghavan is a qualified Company Secretary and Cost Accountant with approximately 38 years of work experience. His expertise spans legal precision, dispute resolution, financial acumen, and regulatory strategy. Prior to joining Five-Star Business Finance Limited, he served at J.K. Fenner (India) Limited, where he handled compliance, internal audit, litigation, dispute resolution, and intellectual property matters.

The company stated that this disclosure is available on its website under the compliances section. Vigneshkumar S M, Company Secretary & Compliance Officer, signed the intimation to the National Stock Exchange of India Limited and BSE Limited.