Date: 01st October, 2026

Regulatory Action Disclosure

Balaji Amines Limited has received a Warning cum Advisory Letter from the Securities and Exchange Board of India (SEBI) dated September 29, 2026, which was received by the company on September 30, 2026.

Nature of SEBI Action

SEBI has issued this warning letter for non-compliance with Regulation 30(2) read with Regulation 30(6) and sub-para 20 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The specific non-compliances identified are:

1. DGFT Order Non-Disclosure: The Directorate General of Foreign Trade (DGFT) issued an order dated August 13, 2024, that placed the company on the Denied Entity List and blacklisted its Import Export Code. The company received this order on the same day (August 13, 2024) but failed to disclose it to the stock exchanges by the due date of August 14, 2024. No disclosure has been made to date.

2. FDA Warning Letter Non-Disclosure: The Food and Drug Administration, Maharashtra issued a letter dated January 10, 2025, administering a strict warning to the company under the Drugs and Cosmetics Act, 1940. The company received this letter on the same day (January 10, 2025) but failed to disclose it to the stock exchanges by the due date of January 11, 2025. No disclosure has been made to date.

Details of Regulatory Actions

  • DGFT Order: The order placed the company on the Denied Entity List, effectively blacklisting its Import Export Code.
  • FDA Warning: The warning was issued after the company's Propylene Glycol was declared "not of standard quality" by Government Analysts of the Central Laboratories. The letter references four show cause notices and administers a strict warning in specific terms.

Company's Response and SEBI Assessment

The company had claimed that the FDA letter was "a general communication of an advisory nature alleging no specific non-compliance." However, SEBI found this explanation inconsistent with the actual content of the letter, which specifically references the substandard quality finding and multiple show cause notices.

Financial Impact Assessment

According to the company's assessment included in the disclosure: "There is no material impact on financials, operations or other activities of the Company" from these regulatory actions.

SEBI Directives

SEBI has directed the company to:

1. Disclose forthwith to the stock exchanges both the DGFT order dated August 13, 2024, and the FDA letter dated January 10, 2025

2. Provide an explanation for the delay in disclosure as required by Regulation 30(6)

3. Implement adequate measures for timely disclosure of events specified in Schedule III

4. Place this SEBI warning letter and corrective steps taken before the Board of Directors

5. Disclose this SEBI warning letter to the stock exchanges

SEBI Warning

SEBI has warned the company that these non-compliances are viewed seriously and advised the company "to be careful in future and to improve its compliance standards, failing which appropriate enforcement action may be initiated in accordance with the provisions of the securities laws."