Shiv Texchem Limited , a Mumbai-based company, has announced the resignation of its Company Secretary and Compliance Officer, Ms. Dinky Jain. The company disclosed this information in compliance with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Key Details of the Resignation

Ms. Jain submitted her resignation letter on October 14, 2025, expressing her intention to explore new career opportunities beyond Shiv Texchem Limited. The company's board has acknowledged her decision and will relieve her from her duties at the close of business hours on the same date.

Company's Response

The resignation was formally communicated to the BSE Limited (formerly known as Bombay Stock Exchange) where Shiv Texchem Limited's shares are listed. Mr. Vikas Pavankumar, the Managing Director of Shiv Texchem Limited, signed the official intimation to the stock exchange.

Additional Company Information

Shiv Texchem Limited, with its registered office at 216, 2nd Floor, Kamla Space, Khira Nagar, S. V. Road, Santacruz (W), Mumbai - 400 054, operates under the Corporate Identification Number (CIN) L24110MH2005PLC152341. The company maintains its corporate office at 602/NB/C, 17D Savoy Chamber, Opp. TPS Il V.P. Road, Dattatraya Road, Santacruz(W), Mumbai - 400054.

Recent Clarification on OFAC Sanctions List

On October 13, 2025, just a day before Ms. Jain's resignation, Shiv Texchem Limited issued a clarification regarding its inclusion in the Office of Foreign Assets Control (OFAC) sanctions list. The company stated that it believes its inclusion in the list, published on October 9, 2025, under an Iran-related sanctions program, is erroneous or a case of mistaken identity. Shiv Texchem Limited has emphasized that it has no business, financial, or commercial dealings with Iran or any sanctioned jurisdictions, entities, or persons.

The company is taking steps to address this issue by appointing a U.S.-based attorney to engage with OFAC and pursue delisting under the prescribed procedures. Despite this development, Shiv Texchem Limited has assured stakeholders that its business operations continue as usual across all product lines, with suppliers, customers, and banking partners remaining fully supportive.

As the company navigates these changes, including the resignation of its Company Secretary and the OFAC list issue, investors and stakeholders will likely be watching closely for any further developments or announcements from Shiv Texchem Limited.

Shiv Texchem Limited , a Mumbai-based company, has issued a clarification regarding its reported inclusion on the U.S. Treasury sanctions list. The company has been allegedly sanctioned for importing Iranian-origin petrochemical products, a claim that has prompted a swift response from the firm's management.

Company's Response

In a disclosure to the Bombay Stock Exchange (BSE) dated October 13, 2025, Shiv Texchem stated:

1. The company has become aware of its name appearing on the U.S. Treasury Department's sanctions list.
2. The alleged reason for the sanction is the importation of Iranian-origin petrochemical products.
3. Shiv Texchem claims it has not been directly contacted or informed by the U.S. Department of Treasury regarding this matter.

Actions Taken

In response to this development, Shiv Texchem has outlined the following steps:

1. The company is in the process of reaching out to the U.S. Department of Treasury to gather more information.
2. Shiv Texchem intends to provide relevant clarifications to address the situation.

Key Details

The company's management, led by Managing Director Vikas Pavankumar, has assured stakeholders that they are actively addressing the situation. As of now, Shiv Texchem maintains that it has not received direct communication from the U.S. Treasury regarding the sanctions.

This development highlights the complex interplay between international trade regulations and corporate operations, particularly in the context of sanctions against Iran. The situation underscores the importance of due diligence in international business transactions and the potential far-reaching consequences of geopolitical tensions on corporate entities.

Investors and stakeholders of Shiv Texchem are advised to monitor further updates from the company as it seeks clarification on this matter. The outcome of the company's communication with the U.S. Treasury could have significant implications for its international operations and compliance status.