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History of Daikaffil Chemicals India Ltd.

Daikaffil Chemicals India Pvt. limited [Daikaffils] was incorporated on 19th June 1992, by taking over a partnership concern M/s. A. J.Chemical Industries belonging to the Indian promoters, Mr. J. G. Patel & Mr. Amit Patel. The partnership was in existence since October 1979. Immediately after its incorporation, Daikaffil acquired all the assets & liabilities of A. J. Chemicals at the book value & allotted equity shares on 25th November 1992 for a total value of Rs.24,29,000 as consideration. The Company entered into a financial cum technical support arrangement with Daika [Japans] Limited, a leading Japanese trading house.

The financial participation & technical support arrangement with Daika [Japans] had received approval from the Secretariat of Industrial Approvals, Ministry of Industry, Government of India, in October 1992 & Daika [Japans] contributed 49% of initial capital of Rs.50 lacs. Additionally, Daika [Japans] entered into an MOU with Daikaffil for buy back of its entire production, after approval, for next ten years. The Comp. thus set up a unit for manufacture of Di-nitro Stilbene [DNSs] with a capacity of 120 tpa. The unit commenced commercial production in January 1993 & has already produced 160 tons of DNS as of 31st December 1994. This has been exported to Daika [Japans] following approval from them after comprehensive quality tests.

Given the success of its product, Daikaffil has decided to expand & modernise the existing capacity of DNS and forward integrate to manufacture Di-amino Stilbene Di-sulphonic Acid [DASDAs] & Optical Brightening Agents [OBAs]. Daikaffil has been converted into a public limited company vide special resolution passed at its EGM held on 23rd December 1994 & approval for change of name to Daikaffil Chemicals India Limited has been received on 10th January 1995. The Comp. has not received a Certificate of Commencement of Business as it was incorporated as a private limited company.

The Comp. has not faced any labour problems/defaults/ litigations that have resulted in closure or suspension of business activities in the past.

2008

-Daikaffil Chemicals India Ltd has appointed appointed Mr. Giuseppe Seccomandi, an Italian National, as Additional Director of Company.s