Star Housing Finance Independent Director Resigns Over Governance Concerns

Star Housing Finance Limited has announced the resignation of its Non-Executive Independent Director Mr. Ajith Kumar Lakshmanan, effective March 31, 2026. The company informed BSE Limited about this development on April 1, 2026, through a formal intimation signed by Company Secretary and Compliance Officer Nachiketa Purohit.

Director Details and Resignation Timeline

Mr. Ajith Kumar Lakshmanan, holding Director Identification Number 09724549, submitted his resignation letter on March 31, 2026, with immediate effect from the same date. The resignation was processed in accordance with Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Parameter:	Details
Director Name:	Mr. Ajith Kumar Lakshmanan
DIN:	09724549
Position:	Non-Executive Independent Director
Resignation Date:	March 31, 2026
Effective Date:	March 31, 2026

Reasons for Resignation

In his resignation letter, Mr. Lakshmanan outlined several critical concerns that led to his decision to step down from the board. The director cited multiple governance requirements and regulatory compliance issues that remained inadequately addressed despite assurances from the management.

The specific concerns raised by the resigning director included:

Governance Issues: Multiple governance requirements that needed attention
Regulatory Compliance: Need for compliance to regulatory standards, particularly regarding appointment of Key Managerial Personnel
Board Processes: Inadequate board processes and internal controls
Financial Concerns: Unresolved liquidity and cash flow requirements
Board Composition: Continuing concern about the absence of promoter directors on the board

Regulatory Compliance and Disclosures

Star Housing Finance Limited has fulfilled all mandatory disclosure requirements under SEBI regulations. The company provided comprehensive information as required under Regulation 30 read with clause 7B of Part A of Schedule III of the Listing Regulations and SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Disclosure Requirement:	Status
Reason for Change:	Resignation as Non-Executive Independent Director
Date of Cessation:	March 31, 2026
Other Listed Entity Directorships:	None (NA)
Material Reasons Confirmation:	Confirmed no other material reasons

Mr. Lakshmanan confirmed that there are no other material reasons for his resignation beyond those mentioned in his resignation letter. The director does not hold any directorships in other listed entities or memberships in board committees of other listed companies.

Company Response and Next Steps

The resignation has been accepted by the board, and the company has committed to filing all necessary forms and intimations with stock exchanges, Registrar of Companies, and other regulatory authorities as required under the Companies Act, 2013, SEBI regulations, and other applicable laws. The company secretary has ensured proper documentation and compliance with all regulatory requirements for the director's departure.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.94%	-0.25%	-40.76%	-62.63%	-62.63%	-74.19%

Star Housing Finance Limited has announced the appointment of two Additional Non-executive Directors following a board meeting held on March 31, 2026. The appointments represent a strategic expansion of the company's board composition as it continues to strengthen its governance structure.

Board Meeting Outcomes

The board meeting, which commenced at 7:30 p.m. and concluded at 7:45 p.m. on March 31, 2026, resulted in the approval of two key appointments:

Position:	Details
Director 1:	Mr. Anil Sachidanand (DIN: 02698182)
Role:	Additional Director (Non-executive)
Director 2:	Mr. Ashish Jain (DIN: 02041164)
Role:	Additional Director (Non-executive)
Meeting Duration:	15 minutes (7:30 p.m. to 7:45 p.m.)

Regulatory Compliance and Approvals

Both appointments have been made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointments are subject to various approvals:

Mr. Anil Sachidanand's appointment requires approval from statutory authorities, regulatory bodies, and other requisite approvals as applicable
Mr. Ashish Jain's appointment requires approval from statutory authorities, regulatory bodies, shareholders, and other requisite approvals as applicable

Corporate Governance Enhancement

The addition of these two Non-executive Directors reflects Star Housing Finance Limited's commitment to strengthening its board structure and enhancing corporate governance practices. Both appointees bring their respective expertise to support the company's strategic direction and oversight functions.

Disclosure and Transparency

In line with regulatory requirements, the company has made this information available on its official website at www.starthfl.com , ensuring transparency and accessibility for all stakeholders. The announcement was signed by Company Secretary & Compliance Officer Nachiketa Purohit, demonstrating the company's adherence to proper disclosure protocols.