Stanley Lifestyles Limited has informed the Exchange about General Updates
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Awaiting price reaction for this filing.
Stanley Lifestyles has disclosed that the Registrar of Companies (ROC), Bangalore, has issued a show cause notice to the directors and ex-director of Sana Lifestyles Limited, its step-down subsidiary. The notice alleges violations of Sections 188 and 184 of the Companies Act, 2013 in connection with substantial related party transactions carried out during FY 2020-21 without fresh or omnibus board approvals and with inadequate disclosure in the AOC-2 form. The authority has also asked the subsidiary to submit domestic transfer pricing audit reports and proof that the transactions were at arm's length. The expected financial implication is ₹5 lakh each for three individuals — director Shubha Sunil, director Sunil Suresh, and ex-director Aboothahir Khan Saleem. No penalty has been imposed yet, and the subsidiary is evaluating its legal response.
The matter is at a show cause stage, not a final order, and the financial implication (₹15 lakh total across three individuals) is small. However, it flags governance lapses at a subsidiary level related to FY21 disclosures, which investors may want to monitor for any escalation.