Nature of the Event
This is a regulatory disclosure regarding the cessation of tenure and employment of Mr. Kalpesh Dave as Executive Director & CEO of Star Housing Finance Limited.
Key Quantitative Figures
No specific financial figures, penalties, or monetary impacts are disclosed in relation to this cessation.
Dates of Action
- The cessation is effective from June 26, 2026.
- The action is based on Board resolutions dated June 27, 2023, and June 18, 2024.
- It is also based on a Shareholders Resolution dated September 16, 2024.
- An RBI letter dated September 13, 2024, is referenced as part of the governing terms.
Parties or Entities Involved
- Departing Executive: Mr. Kalpesh Dave (DIN: 08221964), Executive Director & CEO
- Regulators: SEBI and RBI are referenced as governing authorities.
- Stock Exchange: BSE Limited is the recipient of this intimation.
Purpose or Stated Rationale
The cessation is due to the completion of Mr. Dave's tenure, in accordance with the terms of his appointment as defined by the referenced board and shareholder resolutions and the RBI letter.
Financial or Operational Impact
Financial impact is not quantified in the disclosure. The operational impact involves a change in Key Managerial Personnel.
Capital Structure Impact
No impact on the company's capital structure, shareholding pattern, or promoter holding is disclosed.
Committee Memberships
Concurrent with his cessation as ED & CEO, Mr. Kalpesh Dave has ceased to be a member of the following Board committees:
- Risk Management Committee
- Stakeholder Relationship Committee
- Corporate Social Responsibility Committee