Stanley Lifestyles Limited has announced the resignation of its Chief Financial Officer, Mr. Jangamkote Keshavamurthy Sharath, effective from the close of business hours on March 31, 2026. The announcement was made through regulatory filings to both NSE and BSE under reference number SLL/SE/01-2026 dated April 1, 2026.

Resignation Details

The company informed both the National Stock Exchange of India Limited and BSE Limited about the resignation pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Sharath, who serves as a Key Managerial Personnel of the company, tendered his resignation citing personal reasons and pursuit of career opportunities.

Regulatory Compliance

The company has confirmed compliance with all disclosure requirements under SEBI regulations. Stanley Lifestyles stated that there are no material reasons specified beyond personal circumstances for the resignation. The filing includes the required disclosures as per Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The resignation letter was originally submitted by Mr. Sharath on February 2, 2026, addressed to Chairman and Managing Director Sunil Suresh. In his resignation communication, Mr. Sharath expressed gratitude to the Board, management, and colleagues for their support during his tenure and acknowledged it as a privilege to contribute to the company's growth and success.

Stock Exchange Information

The regulatory filing was submitted to both major Indian stock exchanges where Stanley Lifestyles is listed:

Management Transition

According to the resignation communication, Mr. Sharath requested the company to initiate necessary disclosures to stock exchanges and other applicable authorities and regulators. The announcement was digitally signed by Sunil Suresh, Chairman and Managing Director of Stanley Lifestyles Limited, confirming the acceptance of the resignation and the effective date of cessation of services.

Stanley Lifestyles has disclosed adjudication orders received from the Registrar of Companies (ROC) Karnataka against directors of its step-down subsidiary Sana Lifestyles Limited. The company made this disclosure on March 27, 2026, pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Penalty Details and Affected Directors

The ROC Karnataka has imposed penalties on three directors of Sana Lifestyles Limited for violations under Section 188 of the Companies Act 2013. The penalty structure affects the following individuals:

Nature of Violations and Timeline

The penalties stem from violations under Section 188(5)(ii) of the Companies Act 2013, specifically related to related party transactions. The violations occurred during the financial years 2018-19 to 2021-22 for Sana Lifestyles Limited. The company received the adjudication orders on March 26, 2026.

Regulatory Response and Appeal Process

The affected directors have decided to challenge the ROC's decision through appropriate legal channels. They plan to file an appeal before the Regional Director, Bangalore, Karnataka, to contest the imposed penalties.

Impact Assessment and Compliance

Stanley Lifestyles has assessed the impact of these penalties across various operational parameters:

The disclosure follows SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, ensuring transparency in corporate governance matters. The company has fulfilled its regulatory obligation to inform stock exchanges about material developments affecting its subsidiary operations.