Stanley Lifestyles subsidiary directors face regulatory notices

Stanley Lifestyles Limited's step-down subsidiary Sana Lifestyles Limited received show cause notices from the Registrar of Companies Bangalore alleging non-compliance with related party transaction regulations.

The notices concern alleged violations during FY 2018-19 and FY 2021-22, involving transactions without proper board approvals or adequate disclosure under Sections 188 and 184 of the Companies Act, 2013.

Four directors and ex-directors face potential penalties of ₹5,00,000 each, including Mrs. Shubha Sunil, Mr. Sunil Suresh, Mr. Aboothahir Khan Saleem, and Mrs. Sonakshi Sunil. No penalty has been imposed yet.