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410603/02/96VATSALA Griffin Chemicals Ltd --------------------------------------------------GRIFFIN CHEMICALS LTD. was incorporated in the State of Maharashtra as a Public Limited Company on 23rd July 1992 under the Companies Act. 1956 with its Registered Office at Bombay and obtained Certificate of Commencement of Business on 8th October 1992.The Company is in the process of setting up a project to manufacture Epoxy Resins and Sulphanlic Acid. The Company will manufacture 2040 TPA of Epoxy Resins and 1500 TPA of Sulphanilic Acid. Though there are existing manufactures of these products in organised and unorganised sectors at present looking to increasing demand for the products Company decided to manufacture these products.After identifying the products the Company took steps for preparation of the detailed Project Report. The technology for the products was agreed to be supplied by Shri D.V. Mehta a technocrat having experience in the line. The suppliers of machinery for the project were also identified. Land for the project was acquired in September 1993. The Company submitted the application for the term loan tegetherwith detailed project report to SICOM in September 1993. Thereafter additional information required by SICOM was submitted from time to time. SICOM sanctioned a term loan of Rs. 112 lakhs in March 1994.
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