The barb sounds like a blushing rosey barb. The color on the Bala's dorsal could be caused by a bacterial disease. Try doing a water change first and if there is no change a broad spectrum medication can be used. Check the other fish closely most bacterial diseases do not affect only a single fish unless it is under stress.

Well..I have tried water changes and looked at other fish and they have no such problems or discolorations. There are 2 bala's sharks and the other one does not have any red color pigment in its fins. I also remember seeing others at the pet store with the same red color but pet smart knew nothing much about it. thanks for you input :)

I did find a bacterial disease called "Hemorrhagic Septicemia...... The fish will have red spots or streaks on it body and fins. It can be treated with Furan-2 or E.M. Erythromycin. " Not sure if this is exactly what it is though