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.

Stanley lifestyles Limited has announced a key leadership change at its retail subsidiary, with the resignation of Chief Operating Officer Sijo Martin Joy from Stanley Retail Limited (SRL). The departure marks the end of a tenure spanning over six years with the organization.

Resignation Details

Mr. Sijo Martin Joy tendered his resignation from the position of Chief Operating Officer at Stanley Retail Limited, citing his intention to pursue alternate career opportunities outside the organization. The resignation became effective from the close of business hours on March 25, 2026.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Stanley Lifestyles confirmed that Stanley Retail Limited has approved the resignation and that no material reasons were specified in the resignation communication received from Mr. Joy.

The company provided the required disclosures under SEBI regulations, confirming the cessation date and attaching the resignation correspondence as mandated by regulatory requirements.

Transition Process

According to the resignation correspondence, Mr. Joy initially provided notice in January 2026, with the management accepting his resignation and setting March 26, 2026, as the last working day. However, the final relief date was adjusted to March 25, 2026, to accommodate personal travel plans.

The resignation process included provisions for:

• Smooth transition of duties and responsibilities
• Completion of exit formalities
• Handover procedures
• Return of company assets

Company Acknowledgment

Stanley Lifestyles acknowledged Mr. Joy's contributions during his tenure with the organization. The management expressed appreciation for his service and extended wishes for success in his future endeavors. The company emphasized its commitment to ensuring business continuity despite the leadership change at the subsidiary level.