MEL was incorporated as a Private Limited Company on
January 30, 1987 under the name and style of Mukand
Construction & Project Engineering Company Private Limited.
The object of the Company was to carry on the business of
engineering construction, erection and commissioning of
plants. It became a subsidiary of Mukand Ltd. in 1987 and
deemed Public Company under Section 43A of the Act on
February 5, 1990. In July 1992, the Company changed its
Articles of Association to bring the same in line with the
Articles of Public Limited Companies and underwent a change
of name to Mukand Engineers Ltd. and a fresh Certificate of
Incorporation was obtained dated July 9, 1992. In November
1992, there was a preferential offer of Equity Shares to
the shareholders of Mukand Ltd., whereby MEL ceased to be a
subsidiary of Mukand Ltd. In February 1995, the Company
acquired the erstwhile Engineering Construction Division
[ECD] of Mukand Ltd. in order to add to its capabilities
relating to Engineering Construction. This acquisition was
effected through a 'slump sale' agreement dated February
11, 1995 with effect from September 30, 1994.
SLUMP SALE AGREEMENT
In terms of the slump sale agreement dated February 11,
1995, the Company has acquired the Engineering Construction
Division [ECD] of Mukand Ltd, as a going concern with
effect from the sale date, namely 30th September, 1994. The
ECD was acquired for a total consideration of Rs. 1.41
crores, which has already been paid to Mukand Ltd. in cash.
No proceeds from the proposed issue are to be utilised
towards payment of the said consideration. Except for
confirmation of assignment of contracts in favour of the
Company, entered into by Mukand Ltd. and the clients, all
the terms and conditions of the slump sale agreement have
been complied with on or before March 31, 1995.
2000 - Mr. F.C. Kohli has joined the Board of Directors of Mukand Engineers Ltd.
- The Board has allotted 5,98,500 No. of Equity Shares of the company at
a valuation in Accordance with SEBI.
The BoD has appointed Mr Pradeep R Dhruva as the Company Secretary and Compliance Officer of the Company at the meeting held on October 31, 2003, in place of Shri A Venkatesh who left the organisation on May 22, 2003.