Karachi: Sitar Chemical Industries Limited has issued a statement clarifying its position following media reports about the registration of a First Information Report (FIR) by the Federal Investigation Agency (FIA), which named the company's Chief Executive Officer. The announcement, dated July 21, 2026, was made in compliance with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited.

According to the company, the allegations in the FIR are primarily related to the affairs and operations of another company, which is not associated with Sitar Chemical Industries Limited. The company emphasized that any statements suggesting otherwise are factually incorrect. Importantly, the FIR only records allegations and no findings or determination have been made by any competent court or authority.

The Chief Executive Officer, along with the company, categorically denies the allegations insofar as they relate to them and has vowed to take all appropriate legal steps to protect their rights and interests under applicable law.

Furthermore, Sitar Chemical Industries Limited confirmed that its manufacturing operations and business activities continue without interruption, asserting that the matter has no adverse impact on its daily operations. According to information available from the Pakistan Stock Exchange (PSX), the company remains focused on maintaining its market position and operational stability.

The company's announcement aims to reassure stakeholders and the market of its ongoing commitment to transparency and compliance with legal and regulatory frameworks.