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Privi Speciality Chemicals Ltd. Company History and Annual Growth Details

COMPANY, MANAGEMENT AND PROJECT

HISTORY AND PRESENT BUSINESS OF THE COMPANY

The Company was incorporated as a public limited Company on May 25th, 1985 under the name H.K. Agro Oil Ltd. The Company was incorporated in May, 1985 with an objective to deal in edible grade oil. As in well-known, Gujarat is a major centre for edible grade oil. However, it was found on detailed study that the available technology was not very attractive and lot of effort in terms of time and money was required for creating 'brand equity' of edible Rice Brain Oil. At this stage, the
objective of manufacturing edible grade oil was put on hold till better and improved technology was available.

Subsequently, some time in the year 1991, Shri Rajan Harivallabhdas read about the superior oil for better health and it was found that ricebran oil was one of the best. The Company then explored the possibility of separating Rice Bran Oil Grade I and Distilled fatty acids from Crude Rice Bran Oil. Shri Rajanbhai did an extensive touring abroad with a
technical expert and found UIC's Short Path Distillation (SPD)' unit as the best available equipment for the purpose. As the viability of the project for separation of oil and fatty acids alone was not upto the desired level, efforts were against on for finding suitable technology for development of Monoglycerides and further separation of
fatty acids into Palmitic Acid, Oleic Acid and Linoleic Acid. Sulzer, Switzerland offered its latest technology for the said purpose. Shri Rajanbhai again took extensive trials on pilot scale abroad and found the technology right for the purpose. The entire exercise mentioned in this paragraph took almost two years and as the results were very encouraging and as no one in India had even thought of making high grade fatty acids from Crude Rice Oil, it was decided to go ahead with the project. Accordingly, a firm purchase order was first placed with M/.s. UIC Inc., U.S.A in August, 1993 for one unit of KD 12 SPD.

The Company is setting up facilities for the manufacture of 3248 tpa of Distilled Fatty Acids like Oleic Acid, Linoleic Acid and Palmitic Acid, 2894 tpa Rice Bran oil Grade -1 and 625 tpa of Monoglycerides.

The Company was originally incorporated with an intention to enter into the business of manufacture/process of "Oil". However, on account of economic considerations, it was considered desirable to enlarge the scope of activities and its was then proposed to process/manufacture high grades of fatty acids of monoglycerides also. With a view to appropriately reflect the Company's proposed multi-product activities, it was considered desirable to change the name of the Company to H.K. Agrochem Ltd buy passing the necessary resolution under Section 21/31/44 of Companies Act 1956 on June 14th, 1994 and a certificate to this effect has been given by the Registrar of Companies, Gujarat on
July 15th, 1994.

The Company is planning to use state of the art technology in order to produce fatty acids, Monoglycerides, and Rice Bran Oil Grade-1 conforming to industrial standards. In order to ensure this the Company has got contracts with UIC Inc Of USA who shall be providing the plant, ensuring installation and product quality.

2009

- HK Finechem Ltd has appointed Shri. Dharmesh R Harivallabhdas as additional director of the Company w.e.f. April 22, 2009.

2010

- The Company has changed its name from H K Finechem Ltd. to Adi Finechem Ltd.

2011

- Registered Office of the Company has been shifted From 201, Aniket, C.G.Road, Navrangpura, Ahmedabad - 380009 To 253/P, Chekhala, Sanand-Kadi Highway, Tal. Sanand, Dist Ahmedabad - 382145.

2012
- Email: [email protected]

- The Company has recommended issue of bonus shares in ratio of 1:5

2013
-Adi Finechem Ltd has recommended dividend @ Re. 1.00 per equity share of Rs. 10/- each
-Adi Finechem Ltd has recommended Bonus Equity Shares of Rs. 10/- each in the ratio of 1 equity share for every 10 equity shares.

2014
-Adi Finechem Ltd has recommended dividend @ Rs. 1.50 per equity share of Rs. 10/- each.
-Adi Finechem Ltd has recommended Bonus Equity Shares of Rs. 10/- each in the ratio of 1 equity share for every 10 equity shares.

2016
-Adi Finechem Ltd has informed BSE that the name of the Company has been changed from Adi Finechem Limited to 'FAIRCHEM SPECIALITY LIMITED' w.e.f. October 06, 2016 as per the fresh certificate of incorporation received from Registrar of Companies,

2017

-Company name has changed to Fairchem Speciality Ltd. from Adi Finechem Ltd..

2020

-Company name has changed to Privi Speciality Chemicals Ltd. from Fairchem Speciality Ltd..

-Scheme of composite scheme of arrangement and amalgamation' amongst Fairchem Speciality Limited ('Company' or 'Demerged Company' or 'Transferee Company'), Fairchem Organics Limited ('Resulting Company') and Privi Organics India Limited ('Transferor Company') and their respective shareholders ('Scheme'), pursuant to sections 230 to 232 read with section 234 and other relevant provisions of the Companies Act, 2013. Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we inform you that the Hon''ble National Company Law Tribunal (NCLT), Special Bench, Mumbai, vide its order dated June 30, 2020, has approved the Scheme of Composite Scheme of Arrangement and amalgamation

2021

Expanded Capacity from 45000 MTPA to 72000 MTPA.

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