Mahindra Lifespace Developers Limited — Important, 23-07-2026: Disclosure of material issue

Mahindra Lifespace Developers (MAHLIFE) has changed its Internal Auditor. M/s. Mahajan & Aibara LLP has resigned due to a proposed group-level transition of the internal auditor role. The Board, following a review by the Audit Committee, has appointed Mr. Vimal Agarwal as the new Internal Auditor.

**What's the issue?**

A routine change in the company's Internal Auditor.

**Possible impact?**

Mr. Vimal Agarwal is currently the Group Chief Internal Auditor of Mahindra & Mahindra Limited, the holding company, and previously served as CFO of Mahindra Lifespaces and Mahindra Holidays. This suggests a strategic move to potentially strengthen internal audit functions and oversight across the group, bringing deep corporate and group-level experience. This appears to be a positive for governance and internal controls.

**Company’s response or mitigation plan?**

The company has ensured a smooth transition by appointing a highly experienced individual from within the broader Mahindra Group, ensuring continuity and robust internal controls.