|Mefcom Capital Markets Ltd. is an existing profit making company having its registered office at 12/3 Asaf Ali Road, New Delhi 110002. The company was incorporated on 2nd January, 1985 as a Public Limited Company under the name and style of Vidhata Leasing Ltd. and was granted certificate of commencement of business on 16th March 1985 by Registrar of Companies Delhi and Haryana.
The Management of the company changed hands w.e.f. January, 1990 after which it became a Mefcom - Group company. At the time of the change in management, the Company was a dormant unlisted Company with 7 share holders and paid up capital of Rs. 70 only. Hence the provision of regulation 40(a) and (b) of the listing regulation are not applicable in this case. The first public issue opened for public subscription on 15th January, 90. The main objects of the issue were: (i) To meet the working capital requirements of the company (ii) To meet the issue expenses. Future projections regarding the working of the company were not given in the offer document as they were not required as per the guide lines, then in force therefore the actual performance can not be compaired. The name of the company was then changed to Mefcom Finlesse Mutual Fund Ltd on 26th March 1990 and fresh certificate of incorporation was issued consequent upon change of name on 18th May 1990. The name of the company was again changed to Mefcom Capital Markets Ltd on 6th December 1990 and fresh certificate of incorporation was issued consequent to change on 18th Dec. 1990. In effect therefore, the company started working only w.e.f. Financial Year 1991-92, which should be construed as its first year of operations as it was a dormant
company before change of management.
The company received its approval as Category II Merchant Bankers on 26th February 1991 from Securities & Exchange Board of India (SEBI). It was upgraded as Category I Merchant Bankers from 1st February 1993. From its approval till 30.09.1994, the company has been associated, as explained elsewhere in the Prospectus, with the management of 82 public Issues. The Company is also APPROVED BY RESERVE BANK OF INDIA (RBI) as FULL FLEDGED FOREIGN EXCHANGE MONEY CHANGERS since May 1993. It is also approved as Authorised DEALER on OTC EXCHANGE OF INDIA (OTCEI) w.e.f.October 1993.
2002-Mefcom Capital Markets Ltd has informed that Board of Directors of the Company decided the authorised capital of the Company shall remain the same ie Rs 100 million only.
The Company will issue upto 71,50,000 equity shares to the existing shareholders of the Company on rights basis in the ratio of 2.5:1.The Company will not sub divide its equity shares. In other words the face value of the equity shares of the Company shall remain the same ie Rs 10 only.