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 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.