We hereby inform that Mr. Ushik Gala, Promoter of Suumaya Corporation Limited has been taken into custody by Enforcement Directorate, Mumbai ("ED") on November 18, 2025.
Awaiting price reaction for this filing.
Suumaya Corporation has disclosed that its promoter, Mr. Ushik Mahesh Gala, was taken into custody by the Enforcement Directorate (ED), Mumbai on November 18, 2025. The company clarified that no action or order has been passed against Suumaya Corporation itself. The matter is sub-judice, so the broader impact on the company cannot be determined yet. Management stated that, based on their current assessment, there is no prima facie impact on the company's financial or operational activities. The company said it will continue normal business and keep the exchange updated on any further developments.
This is likely to create negative sentiment and volatility for the stock, as ED custody of a promoter raises governance and reputational concerns, even though the company itself is not currently facing any direct action. Investors should watch for further disclosures as the matter is still under investigation.