Star Housing Finance Limited has announced the appointment of external auditors to conduct a comprehensive review of a National Housing Bank (NHB) Snap Audit Report, reinforcing its commitment to transparency and corporate governance standards.

External Auditor Appointment

The company has engaged M/s. Parikh & Associates, Chartered Accountants, an Ahmedabad-based firm, as independent auditors for the comprehensive external audit. This appointment follows instructions from the Board of Directors and builds upon the company's earlier intimation under regulation 30 of SEBI LODR regulations dated April 3, 2026.

Corporate Governance Commitment

The appointment reflects the Board's and Management's dedication to ensuring transparency, accountability, and adherence to the highest standards of corporate governance. The decision demonstrates proactive measures taken by the company to address regulatory requirements and maintain stakeholder confidence.

Current Status and Clarification

Star Housing Finance Limited has provided important clarification regarding the nature of the review. The company emphasized that the matter under review remains at the stage of suspicion, with the existence of irregularities not yet substantiated. The external audit is specifically intended to establish facts in an objective and independent manner.

Regulatory Compliance

The intimation was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Nachiketa Purohit, Company Secretary & Compliance Officer, demonstrating proper adherence to regulatory disclosure requirements.

Star Housing Finance Limited has disclosed payment defaults on term loan instalments to two major financial institutions, as per regulatory filings made on 07-04-2026. The disclosures were made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular no. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019.

Default Details

The company reported two separate defaults on term loan instalment payments:

Loan Portfolio Structure

The underlying loan arrangements with both lenders involve multiple tranches with varying terms:

Hinduja Housing Finance Limited

LIC Housing Finance Limited

Financial Position

The company's overall borrowing profile shows significant exposure to institutional lenders:

All the disclosed loans are structured as secured term loans with scheduled instalment payments. The defaults represent missed principal payments, with no interest components outstanding at the time of disclosure. The company's total financial indebtedness of ₹410.02 crore encompasses both short-term and long-term debt obligations from banks and financial institutions.

Regulatory Compliance

The disclosure was signed by Nachiketa Purohit, Company Secretary & Compliance Officer, and submitted to BSE Limited. The filing includes detailed annexures providing comprehensive information about each default, including loan terms, interest rates, and tenure details for all tranches under both lending arrangements.