Five-Star Business Finance Limited has proposed the appointment of M/s Suri & Co as its Joint Statutory Auditors for a continuous period of three years, effective from the conclusion of the 42nd Annual General Meeting (AGM). The Board of Directors made this recommendation based on the advice of the Audit Committee to comply with regulatory requirements for joint audits.

The proposal requires shareholder approval at the upcoming 42nd AGM. If approved, M/s Suri & Co will serve as Joint Statutory Auditor until the conclusion of the 45th AGM. This appointment ensures compliance with the Reserve Bank of India’s guidelines for the Appointment of Statutory Auditors dated April 27, 2021, which mandate that entities with an asset size of ₹15,000 crore and above at the end of the previous year must conduct their statutory audit under a joint audit structure involving a minimum of two audit firms.

Regulatory Compliance and Disclosure

The company disclosed this recommendation under Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was further aligned with SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026. The full disclosure details were submitted to the National Stock Exchange of India Limited and BSE Limited on July 25, 2026.

Profile of Proposed Auditor

M/s Suri & Co, Chartered Accountants, based in Chennai, brings over eight decades of experience in statutory audits, risk management, advisory, compliance, and technology. Established in 1939, the firm is registered with the Institute of Chartered Accountants of India (ICAI) under Firm Registration Number 004283S and holds Peer Review Certificate No. 016670.

The firm maintains offices across multiple locations in India and has extensive experience serving listed companies, banks, Non-Banking Financial Companies (NBFCs), financial institutions, and other corporates across diverse industry sectors. Its registered office is located at 443 & 445, 4th Floor, Main Building, Guna Complex, Anna Salai, Teynampet, Chennai - 600018.

What the Numbers Show

The shift to a joint audit model reflects Five-Star Business Finance Limited's adherence to stricter regulatory oversight frameworks imposed by the RBI on large financial entities. By appointing a second statutory auditor, the company aims to enhance the robustness of its financial reporting and governance structures. This move does not indicate any irregularity but rather aligns the company’s audit practices with the mandatory compliance standards for NBFCs meeting the specified asset threshold.

Five-Star Business Finance Limited has appointed Sreeram Ranganathan Iyer as a Non-Executive Independent Director for a five-year term, effective July 25, 2026. The Board of Directors approved the appointment during its meeting held on July 25, 2026, based on the recommendation of the Nomination & Remuneration Committee. This addition to the Board strengthens the company’s governance structure with a leader possessing over 33 years of experience in international banking and corporate operations. The appointment is subject to approval by shareholders at the ensuing Annual General Meeting.

The Board approved Mr. Iyer’s appointment as an Additional Director, designated as a Non-Executive Independent Director, not liable to retire by rotation. He confirmed his independence under Section 149 of the Companies Act, 2013, and Regulation 16 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company disclosed that Mr. Iyer is not debarred from holding the office of Director by virtue of any SEBI Order or other authority.

The appointment was communicated to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of the SEBI LODR Regulations, as amended. The disclosure also references SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, and circulars from BSE (LIST/COMP/14/2018-19) and NSE (NSE/CML/2018/24) dated June 30, 2018.

Director Profile

Sreeram Ranganathan Iyer brings extensive global banking experience to the Board. His professional background includes:

Mr. Iyer has previously led digital transformation initiatives and established shared services operations for major financial institutions. His expertise in deploying emerging technologies and enhancing customer experience aligns with the company’s strategic focus on sustainable value creation.

Regulatory Compliance

The company issued the intimation through Vigneshkumar SM, Company Secretary & Compliance Officer. The disclosure confirms no relationships between directors requiring additional reporting. The full disclosure is available on the company’s website under the Compliances section.