Shahlon Silk Investment in KEPL Not Materialised

Shahlon Silk Industries Limited has announced that its proposed investment of ₹85,50,000 (₹85.5 Lakhs) in group company Karanj Envirocare Private Limited (KEPL) has not materialized. The company had remitted share application money for subscription to 8,55,000 equity shares of KEPL, which were renounced rights issue shares. However, KEPL subsequently refunded the entire amount. The Board of Directors noted this refund, stating the investment was not presently considered necessary due to revised business requirements. Consequently, no shares were allotted to Shahlon Silk.