Further to the Company''s disclosure dated 13 October, 2025 regarding its inclusion in the list of entities published by the office of Foreign Assets Control ("OFAC"), U.S. Department of ....
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Shiv Texchem has appointed a U.S.-based legal counsel, through its Indian advisors, and has formally begun the process of engaging with OFAC (U.S. Treasury) to seek removal of its name from the sanctions list. The company was originally placed on the OFAC list on October 13, 2025. It reiterates that it has no business, financial, or commercial dealings with Iran or any sanctioned jurisdictions. Business operations continue uninterrupted across all product lines. The temporary shift away from U.S. dollar-denominated credit lines to INR-based facilities and domestic banking continues, ensuring working capital stability.
This is a positive procedural step toward resolving the OFAC sanctions overhang, but the timeline for removal remains uncertain and could take time given the multi-stage regulatory review. Until the company is officially removed from the list, the stock may continue to face pressure and there could be lingering risks around U.S.-related trade and financial access.