Shivchem Agro Limited informed BSE Limited that it is not required to submit related party disclosures as mandated by Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This declaration stems from the company's listing on the SME Exchange, which qualifies it for specific regulatory exemptions.

The company stated that pursuant to Regulation 15(2)(b) of the SEBI LODR Regulations, the provisions under Regulation 23 do not apply to listed entities meeting certain financial criteria or those listed on the SME Exchange. Shivchem Agro confirmed its status as an SME-listed entity, thereby rendering Regulation 23(9) inapplicable to its operations.

Regulatory basis for exemption

The filing highlighted two primary conditions under which Regulation 23 provisions are waived:

• Listed entities with paid-up equity share capital not exceeding ₹10 crore and net worth not exceeding ₹25 crore as on the last day of the previous financial year.
• Listed entities which have listed their specified securities on the SME Exchange.

Shivchem Agro explicitly noted that its listing on the SME Exchange triggers the second condition, allowing it to bypass the standard related party transaction disclosure requirements applicable to mainboard listed companies.

Compliance status

Despite this exemption, the company affirmed its commitment to maintaining other regulatory standards. The management clarified that while Regulation 23(9) is not applicable, Shivchem Agro will continue to comply with all other required listing compliances mandated by the exchange.

The declaration was signed by Rohit Agarwal, Chairman and Executive Director, on October 16, 2026. This move aligns with SEBI's framework designed to reduce compliance burdens for smaller entities operating on the SME platform, provided they meet the stipulated financial thresholds.