Stanley Lifestyles Board Approves Amalgamation Scheme

Stanley Lifestyles Limited's Board of Directors has approved a Scheme of Amalgamation involving five subsidiaries: Stanley OEM Sofas Limited, Stanley Retail Limited, SANA Lifestyles Limited, Staras Seating Private Limited, and Shrasta Decor Private Limited. The amalgamation, which is an inter-group restructuring, is subject to various regulatory and shareholder approvals. The transaction is considered a related party transaction but is exempt from Section 188 of the Companies Act, 2013, as per Ministry of Corporate Affairs guidelines for amalgamations. The meeting was brief, lasting only 15 minutes.