Stanley Lifestyles Discloses Adjudication Order Against Subsidiary Directors
Stanley Lifestyles Ltd. announced on March 30, 2026, that the Registrar of Companies (ROC), Karnataka, has issued an adjudication order against directors of its step-down subsidiary, Sana Lifestyles Limited. The order pertains to a violation of Section 188 of the Companies Act 2013, specifically related to related-party transactions for the financial years 2018-19 to 2021-22.The ROC imposed a penalty of up to ₹5,00,000 on each of the following directors of Sana Lifestyles Limited: Mrs. Shubha Sunil, Mr. Sunil Suresh, and Mr. Aboothahir Khan Saleem. The company confirmed that the directors intend to file an appeal against the order before the Regional Director in Bangalore, Karnataka.
Stanley Lifestyles Ltd. stated that the impact of the adjudication order on its financial, operational, or other activities is not considered significant.
Details of the ROC Order:
| Particulars | Description |
|---|---|
| Authority | Registrar of Companies (ROC), Karnataka |
| Nature of Action | Penalty imposed for violation of Section 188 of the Companies Act 2013 |
| Directors Affected | Mrs. Shubha Sunil, Mr. Sunil Suresh, Mr. Aboothahir Khan Saleem |
| Penalty Amount | Up to ₹5,00,000 each |
| Date of Order Receipt | March 26, 2026 |
| Violation | Section 188 (5) (ii) of the Companies Act 2013 – Related Party Transaction |
| Impact on Stanley Lifestyles | Not significant |
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