“DEEP JYOTE PAINTS AND CHEMICAL CORPORATION” since 1974 promoted by “Kumar V. Shah” was converted to “DEEP JYOTE PAINTS AND CHEMICAL PVT LTD”in 1985, which was then merged by a HON’BLE High court order with “DERA PAINTS AND CHEMICALS LIMITED”in 1991.

Now this 41 year old organization, promoted by “Kumar V. Shah” is being renamed to “MITSHI INDIA LIMITED” with multi-domain licenses.

Short notes on Promoter,Company & its Background :-

40+ years track record of the promoter “Kumar V. Shah” shows the ability and dedication in maintaining his and the company’s reputation.


Set up a paints and hardware shop namely “DEEP JYOTE PAINTS AND CHEMICAL CORPORATION”.


Started a tiny unit for paint manufacturing at Vasai (East), Maharashtra, India; while utilizing a land of 500 sq. ft.


Production expanded from tiny to small scale units and manufacturing area was increased from 500 sq. ft. to 6000 sq. ft. Partnership firm was now converted to a private limited company namely “DEEP JYOTE PAINTS AND CHEMICAL PVT LTD”


Established a closely held new limited company namely “DERA PAINTS AND CHEMICALS LIMITED”for the further expansion and backward integration in paints and to procure a plot of land sized 10 acres at Chiplun, Lote, Parshuram, Maharashtra, India.


The entire business of “DEEP JYOTE PAINTS AND CHEMICAL PVT LTD”was merged with “DERA PAINTS AND CHEMICALS LIMITED”under the guidance of the promoter “Kumar V. Shah”.


The now merged company, under the name of “DERA PAINTS AND CHEMICALS LIMITED” successfully brought in a public issue and listed it’s equity shares on the ‘Bombay Stock Exchange’ – B.S.E Ltd.


“DERA PAINTS” was manufacturing specialized automobiles paints for O.E and re-finish coatings supplying and distributingtoa network of 400 dealers.


The company was supplying its various products to its esteemed customers like “Mahindra & Mahindra LTD”, “Gujarat Narmada LTD”, “International Tractors LTD”, “Premiere automobile LTD”, “Castrol LTD”, and many more.


Commencement of commercial production at the 2nd plant in Chiplun.


After the successfully journey producing phenomenal growth in the past 24 years, due to a stroke of unforeseen circumstances the company took a huge hit.

Being a high explosive paint plant at the mother factory Vasai, caught a fire due to an accident and gutted the entire factory. The fire also had huge impact on the working conditions of the Chiplun plant.


Unable to recover from the massive loss and challenges caused by the incident, the journey from a tiny to large scale company had come to a very critical condition.


The company equity (share price) was suspended by B.S.E LTD.


Being a huge company, it was not feasible to recover from the massive loss and debts kept on increasing.


The promoter “Kumar V. Shah” with his diligent work wanted to repay all the debts in order to maintain his reputation.


After coming out from numerous challenges, the promoter “Kumar V. Shah” managed to repay almost all the debts of the company and had settled all major liabilities.

After which, he started working on revised plans for the future of the company since times had changed and restarting a paints manufacturing factory was not feasible.

Since 2014

In the vision of reviving the company, the following success were achieved by the company:

The company was relisted in ‘Bombay Stock Exchange’ – B.S.E LTD, in June 2014.

The company was renamed to “MITSHI INDIA LIMITED”.

Keeping the old object activity to manufacture paints, additional objects as follows were added into the memorandum of articles which was approved by Central Government :

  • Paints
  • Technologies (Software and Hardware)
  • Papers and its by products
  • Logistics / Ware House
  • Painting / Housekeeping - services
  • Online / Offline General Merchandise
  • Gold / Silver Jewelry
  • Scraps: MS / Plastics / Paints –used for recycle

The company successfully brought in a preferential equity of ₹184 lacs to meet the part / balance creditor’s payments and to fund the above expenses of the initial revised plan.

The above confirms the 40+ years of INCREDIBLE experience with track record of the promoter and company.

MITSHI INDIA LTD - Formerly "Dera Paints & Chemicals LTD"