Stanley Lifestyles Limited has informed the Exchange about General Updates
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Stanley Lifestyles has informed the exchanges that Mr. Rajesh Manghnani and Mrs. Sharmila Manghnani have resigned as Directors of Shrasta Décor Private Limited (SDPL), a step-down subsidiary of the company, effective 13th August 2025. The resignations were formally noted by the Board of SDPL on the same day. The reason given is that both directors sold their entire shareholding in SDPL to Stanley Retail Limited (SRL), the holding company of SDPL, and chose to step down since they no longer hold any equity interest. The move is intended to align SDPL's Board composition with its strategic direction after the change in ownership. Disclosures under SEBI LODR Regulation 30 have been filed with both NSE and BSE as Annexure-A and Annexure-B.
This is a routine housekeeping change at a step-down subsidiary level and is unlikely to have any material impact on Stanley Lifestyles' consolidated operations or shareholders. The exit follows a complete transfer of the resigned directors' stake in SDPL to the group holding company, which may slightly simplify the subsidiary's ownership structure.