Receipt of communication from Reserve bank of India
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Shyamkamal Investments Limited disclosed that the Reserve Bank of India (RBI) has rejected the company's application seeking approval for a proposed change in shareholding. Morabia Enterprises Private Limited and Mr. Mahendra Harjivan Morabia, along with persons acting in concert, had proposed to acquire a 50.30% stake in the company. RBI communicated on November 27, 2025 that the approval request could not be acceded to. No financial penalty, sanction, or non-compliance was cited, and the original application was dated September 20, 2025.
The proposed change of control at Shyamkamal Investments will not go ahead, leaving the existing shareholding structure intact. While no penalty was imposed, the rejection blocks the acquirers' plan and removes a potential ownership change event from the table.