Stanley Lifestyles Limited Discloses Adjudication Order Against Subsidiary Directors
Stanley Lifestyles Limited announced on March 27, 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(5)(ii) of the Companies Act 2013, concerning related party transactions for the financial years 2018-19 to 2021-22.The ROC imposed a penalty of up to Rs. 500,000 on each of the following directors of Sana Lifestyles Limited: Mrs. Shubha Sunil, Mr. Sunil Suresh, and Mr. Aboothahir Khan Saleem. Stanley Lifestyles Limited confirmed that the directors intend to appeal the order before the Regional Director in Bangalore, Karnataka.
The company stated that the ROC’s action is not expected to have a significant impact on Stanley Lifestyles Limited’s financial, operational, or other activities.
Details of the Adjudication Order
| Particulars | Description |
|---|---|
| Name of the authority | Registrar of Companies (ROC), Karnataka |
| Nature and details of the action(s) taken, initiated or order(s) passed | The ROC imposed penalty upon the following Directors of Sana Lifestyles Limited, step down subsidiary of Stanley Lifestyles Limited for the Financial Year 2018-19 to 2021-22 on violation of Section 188 of the Companies Act 2013: 1. Mrs Shubha Sunil 2. Mr. Sunil Suresh 3. Mr. Aboothahir Khan Saleem of maximum of Rs. 5,00,000 each. The Directors will go for appeal before the Regional Director, Bangalore, Karnataka. |
| Date of receipt of direction or order | 26-03-2026. |
| Details of the violation(s)/contravention(s) committed or alleged to be committed | Violation under Section 188 (5) (ii) of the Companies Act 2013 i.e., Related Party Transaction for the Financial Year 2018-19 to 2021-22 of Sana Lifestyles Limited. |
| Impact on financial, operation or other activities | Not significant. |
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