LPCL incorporated as private limited company on December 28, 1984 as a small scale unit to manufacture 300 tpa of Thionyl Chloride (TC) which was increased to 1500 tpa in 1989 to meet the growing demand. LPCL undertook a further expansion programme in FY 1993 with assistance from SlDBI to increase TC capacity to 2100 tpa. The expansion scheme costing Rs.60 lakh was met by additional equity (Rs.8 lakh) unsecured loan (Rs.6 lakh), internal cash accural(Rs. 6lakh) and rupee Term Loan from SIDBI (Rs.40 lakh). After availing assistance from SlDBI, the modemisation-cum-expansion scheme was completed by the end of FY 1993-94 and LPCL graduated to the medium scale sector. With effect from April 1, 1994 the assets and liabilities of a partnership firm of the promoters viz. Plasticizers and Chemicals has been taken over by LPCL. The firm has a plant at plot no. 3811, GlDC, Ankaleshwar for manufacture of 1080 tpa of CP. Consequently, the equity capital of LPCL has increased by Rs. 20.72 lakhs as against addition to gross block of Ps. 41.40 lakhs, Net Block (26.15 lakhs) Net Current Assets (Rs. 64.75 lakhs) and Loan funds (Ps.79.28 lakhs). The balance sheet of Plasticizers & Chemicals as on 31/03/94 is given below: MAIN OBJECTS OF THE COMPANY The main objects of the Company as set out in the Memorandum and Articles of Association are detailed below: "To Manufacture, Produce, Pefine, Process, Formulate, Buy, Sale, Export, Import and deal in all types of heavy and light Chemicals, Chemical equipment and compounds, Chemicals capable of being used in the pharmaceutical industry, agriculture chemicals, petro-chemicals, industrial chemicals, minerals, methylated and rectified spirits colours, coalter dyes, die intermediates, raw materials, pigments dyes, paints, synthetic paints, thinners, varnishes, synthetic, resins, enamels, lacquers, distempers disinfectants oils, wood and food preservatives, printing marking inks, polishes of metal, wood paper, cryons, powders, electroplating, obrasine and it's chemicals, greases, vaselines, creams, glue, gelentines."