Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 -Appointment of Joint Statutory Auditors of the Bank
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Suryoday Small Finance Bank has appointed M/s. Gokhale & Sathe, Chartered Accountants as one of its Joint Statutory Auditors for a three-year term, from the 17th AGM in 2025 until the 20th AGM in 2028. The appointment was made because the bank's balance sheet size crossed Rs. 15,614 Crores as of March 31, 2025, making joint auditors mandatory under RBI guidelines. The RBI approved this on July 28, 2025, and the Board approved it on August 14, 2025, subject to shareholder approval at the upcoming AGM. Gokhale & Sathe (established 1983, 14 partners, ~200 staff) will serve alongside the existing auditor M/s. Mukund M. Chitale & Co.
This is a routine compliance-driven appointment reflecting the bank's growth in size, not a governance concern. The addition of a second auditor enhances audit oversight and is neutral to mildly positive for shareholders.