Suumaya Corporation Limited, a publicly traded company, has reported that its promoter, Mr. Ushik Mahesh Gala, was taken into custody by the Enforcement Directorate (ED) in Mumbai on November 18, 2025. This development has raised questions about potential implications for the company and its operations.

Key Details of the Incident

Company's Response

Suumaya Corporation Limited has issued a statement addressing the situation. The company has emphasized that:

• No actions or orders have been passed against the company itself.
• There is currently no immediate impact on the company's financial or operational activities.
• The company continues to operate its business as usual.

Potential Implications

While the company maintains that there is no immediate impact, it has acknowledged that the matter is sub-judice. As such, the long-term implications for Suumaya Corporation Limited remain uncertain at this time.

The company has stated that it will inform the stock exchange of any developments or changes in its assessment of the situation.

Investor Considerations

Investors and stakeholders of Suumaya Corporation Limited should note that:

• The action is currently limited to the promoter and not the company itself.
• The company reports no immediate financial or operational impact.
• Further developments may arise as the legal process unfolds.

Stakeholders are advised to stay informed about any official communications from the company or regulatory bodies regarding this matter as the situation continues to evolve.

Suumaya Corporation Limited (BSE: 543274) has announced the resignation of two of its directors. The company, in its filing to the Bombay Stock Exchange, disclosed that Mr. Satish Jayantilal Khimawat and Mr. Sharad Deoraj Jain have stepped down from their respective positions.

Details of Resignations

Mr. Satish Jayantilal Khimawat (DIN: 07769130), who served as a Non-Executive Independent Director, and Mr. Sharad Deoraj Jain (DIN: 01686035), who held the position of Non-Executive Non-Independent Director, have both tendered their resignations. The company stated that the resignations are due to prior commitments, as mentioned in their respective resignation letters.

Effective Date and Impact

The resignations will take effect from the close of business hours on November 11, 2025. Following their departure, both directors will cease to be associated with any board committees they were part of at Suumaya Corporation Limited.

Additional Directorships and Committee Positions

It's worth noting that Mr. Satish Jayantilal Khimawat also holds a directorship in Suumaya Industries Limited, where he is involved in several key committees. His positions in Suumaya Industries Limited include:

Compliance with Regulations

Suumaya Corporation Limited has confirmed that the resignations comply with the SEBI Listing Regulations. The company has submitted the required details as per Schedule III of the Listing Regulations, read in conjunction with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

The company has assured that there are no other material reasons for the resignations beyond what has been stated in the directors' resignation letters. Suumaya Corporation Limited has duly informed the Bombay Stock Exchange of these changes in its board composition, adhering to the necessary disclosure requirements.