Five-Star Business Finance Ltd – Lobbying Governance & Transparency

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Lobbying Governance

Overall Assessment	Analysis	Score
Limited	Five-Star Business Finance discloses only high-level references to how lobbying is governed. It explains that “the Senior Management of the Company, and ably directed by the Board and its sub-Committees, shall be primarily responsible for implementation of the ESG policy,” adding that “The application and progress on this policy shall be periodically overseen by the Board” and “the policy will also be reviewed annually.” Within that ESG policy the firm includes a section headed “Responsible Policy Advocacy,” stating that it “collaborates on matters of policy development… by engaging with regulatory bodies such as Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI), other Non-banking Financial Corporations (NBFCs) and other stakeholders in appropriate forums.” These sentences show that the Board has nominal oversight of an ESG policy that encompasses policy advocacy, which suggests some governance over lobbying activities. However, the company does not disclose any concrete procedures for monitoring or aligning its direct or indirect lobbying with climate or broader ESG goals, provides no information on how trade-association positions are reviewed, and offers no dedicated climate-lobbying report or audit. Consequently, the disclosure reflects only a limited governance framework focused on annual policy review, with no detail on the specific management of lobbying alignment. View Sources	D

Overall Assessment

Analysis

Score

Limited

Five-Star Business Finance discloses only high-level references to how lobbying is governed. It explains that “the Senior Management of the Company, and ably directed by the Board and its sub-Committees, shall be primarily responsible for implementation of the ESG policy,” adding that “The application and progress on this policy shall be periodically overseen by the Board” and “the policy will also be reviewed annually.” Within that ESG policy the firm includes a section headed “Responsible Policy Advocacy,” stating that it “collaborates on matters of policy development… by engaging with regulatory bodies such as Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI), other Non-banking Financial Corporations (NBFCs) and other stakeholders in appropriate forums.” These sentences show that the Board has nominal oversight of an ESG policy that encompasses policy advocacy, which suggests some governance over lobbying activities. However, the company does not disclose any concrete procedures for monitoring or aligning its direct or indirect lobbying with climate or broader ESG goals, provides no information on how trade-association positions are reviewed, and offers no dedicated climate-lobbying report or audit. Consequently, the disclosure reflects only a limited governance framework focused on annual policy review, with no detail on the specific management of lobbying alignment.

View Sources

Lobbying Transparency

Overall Assessment	Analysis	Score
Limited	The company provides only minimal insight into its climate-related lobbying. It notes that it collaborates “on matters of policy development … with regulatory bodies such as Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI), other Non-banking Financial Corporations (NBFCs) and other stakeholders in appropriate forums,” which identifies the general institutions it approaches but gives no detail on the specific mechanisms—such as meetings, submissions, or letters—through which those engagements occur. It does not name any particular climate or environmental policy, law, or regulation it has sought to influence, nor does it affirmatively state that it refrains from climate-policy lobbying. Likewise, the disclosure offers no clear statement of the policy changes or legislative outcomes it is pursuing. As a result, the company’s transparency is limited to acknowledging that it speaks with regulators, without clarifying what climate issues it addresses, how it lobbies, or the results it seeks.	D