Shiv texchem Limited has announced the resignation of Independent Director Mr. Rajen Hemchand Gada, effective February 11, 2026. The company informed the Bombay Stock Exchange about this board change in compliance with SEBI regulations on February 19, 2026.

Resignation Details

Mr. Rajen Hemchand Gada (DIN: 01642360) submitted his resignation letter on February 11, 2026, citing personal commitments as the primary reason for his departure from the board. The resignation became effective immediately from the same date.

Board's Response and Confirmation

The matter was presented to the board during a scheduled meeting on February 16, 2026. The Managing Director, with consent from other directors present, attempted to connect with Mr. Gada to persuade him to reconsider his resignation. However, these discussions did not yield the desired outcome, and the resignation stands effective from February 11, 2026.

In his resignation letter, Mr. Gada confirmed that there are no other material reasons for his resignation beyond the personal commitments stated. He expressed gratitude to the Board of Directors and management for their support and cooperation during his tenure.

Other Directorships

According to the regulatory filing, Mr. Gada holds additional responsibilities in the corporate sector:

Regulatory Compliance

Shiv Texchem Limited has ensured full compliance with regulatory requirements, including:

• Filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Adherence to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
• Submission of required annexures including the resignation letter and detailed information

The company has requested the board to complete all necessary statutory and regulatory compliances, including filings with the Registrar of Companies and Stock Exchange as required under the Companies Act, 2013, and other applicable laws.

Shiv Texchem Limited , a Mumbai-based chemicals company, has provided a significant update on its efforts to address its inclusion on the U.S. Treasury sanctions list. The company has now appointed US-based legal counsel and formally commenced engagement with the Office of Foreign Assets Control (OFAC) to seek removal from the sanctions list.

Latest Developments

In a disclosure dated January 07, 2026, Shiv Texchem announced several key developments in its ongoing efforts to resolve the sanctions matter:

Company's Position and Operations

Shiv Texchem has reiterated its stance regarding the sanctions matter, emphasizing that it maintains no prohibited business relationships. The company's operational status remains stable despite the ongoing regulatory challenges.

Background and Timeline

The current update follows the company's initial disclosure on October 13, 2025, when Shiv Texchem first addressed its reported inclusion on the U.S. Treasury sanctions list. At that time, the company stated it had not been directly contacted by the U.S. Department of Treasury regarding the matter.

Financial and Operational Impact

The company has adapted its financial operations to manage the temporary challenges posed by the sanctions listing. Shiv Texchem continues to operate through alternative banking channels while maintaining its commitment to regulatory compliance.

The temporary shift away from U.S. dollar-denominated credit lines continues to be managed through INR credit facilities and domestic banking channels, ensuring smooth trade flows and working-capital stability. This approach has allowed the company to maintain operational continuity while addressing the regulatory matter.

Management Commitment

Managing Director Vikas Pavankumar has assured stakeholders of the company's commitment to transparency and regulatory compliance. The company has pledged to provide periodic updates as material developments arise in the OFAC engagement process.

This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's adherence to Indian regulatory requirements while addressing international compliance matters.