Shiv Texchem Limited wishes to inform stakeholders that it as become aware of its inclusion in the list of entities published by the Office of Foreign Assets Control ("OFAC"), U.S. Department ....
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Awaiting price reaction for this filing.
Shiv Texchem has been included in the U.S. Treasury's OFAC sanctions list published on October 9, 2025, under an Iran-related sanctions program. The company states it has no business, financial, or commercial dealings with Iran or any sanctioned entities and believes the listing is a case of mistaken identity or error. It is engaging U.S. legal counsel to formally pursue delisting from the OFAC list. Business operations and relationships with suppliers, customers, and banking partners remain unaffected. The only operational change is that USD-denominated credit lines are temporarily unavailable and are being replaced with INR-based credit lines or domestic banking settlements.
This is a negative event that could create uncertainty around the stock, potential difficulties in cross-border trade, and risk of further regulatory or counterparty scrutiny until the OFAC delisting is secured. However, the company's claim of mistaken identity and its ability to maintain domestic banking operations may limit long-term damage if the issue is resolved quickly.