Shahlon Silk Industries Limited informed that the Board of Directors of the company at its meeting held on 10th August, 2023 decided inter alia the following: Shri Dhirajlal Raichand Shah was appointed as an Executive Chairman of the company by the shareholders at the 14th Annual General Meeting held on 30th September, 2022, for a period of 3 years from October 1, 2022 till September 30, 2025. He will attain the age of 70 years on 18th February 2024. Pursuant to the provisions of Section 196(3) of the Companies Act, 2013 and based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors has approved the proposal of the Continuation of employment of Shri Dhirajlal R. Shah (DIN: 00010480) as an Executive Chairman of the Company, on attaining the age of 70 years on 18th February, 2024 for the remaining period of his term of 3 years i.e. until September 30, 2025, subject to the approval of the shareholders of the Company by way of special resolution at the ensuing Annual General Meeting.