<h1>Five-Star Business Finance Limited Proposes Appointment of Joint Statutory Auditors</h1>
Five-Star Business Finance Limited has proposed the appointment of M/s Suri & Co, Chartered Accountants, as a Joint Statutory Auditor for the company. This proposal follows recommendations made by the Audit Committee and is intended to be approved by the shareholders.
The appointment of the auditor is driven by RBI guidelines regarding statutory audits for entities whose asset size meets specific criteria. As per these guidelines, a joint audit conducted by a minimum of two audit firms is required for companies with an asset size of Rs 15,000 crore and above at the end of the previous year.
M/s Suri & Co, Chartered Accountants (bearing Firm Registration Number: 004283S and Peer Review Certificate No: 016670), has been proposed for this role. The appointment spans a period of three years, commencing from the conclusion of the company's 42nd Annual General Meeting (AGM) up to the conclusion of the 45th AGM.
The firm offering its services is one constituted in 1939 and is registered with the Institute of Chartered Accountants of India (ICAI). M/s Suri & Co has extensive experience, spanning over eight decades, in Statutory Audits, Risk Management, Advisory, and Compliance. The firm's capabilities include serving various sectors, including listed companies, banks, NBFCs, and financial institutions.
Key details regarding the appointment are summarized below:
| Particular | Details |
|---|---|
| Auditor | M/s Suri & Co, Chartered Accountants |
| Term of Appointment | 3 years |
| Period Covered | From conclusion of 42nd AGM to conclusion of 45th AGM |
| Reason for Joint Audit | Compliance with RBI guidelines for entities with assets exceeding Rs 15,000 crore |
FIVESTAR Stock Price Movement
On Friday, shares of Five-Star Business Finance Limited settled at ₹535.2, gaining 0.19% in the closed market session. The equity saw a volume of 495,386 shares, trading within an intraday range that spanned from a low of ₹520.5 to a high of ₹538.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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