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Mukand Engineers Ltd. Company History and Annual Growth Details

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. as Director.

- The Board has allotted 5,98,500 No. of Equity Shares of the company at a valuation in Accordance with SEBI.

2003

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.

2008

- E-mail ID for Investors Complaints: [email protected]

2010

-Company Board recommended a dividend of Rs. 1.50 per share (15%).

2011

-Company has recommended a dividend of Rs.1.50 per share (15%).

2012

-Mukand Engineers Ltd has recommended a dividend of Rs. 1/- per equity share of Rs.10/- each.

2013
-The Board of Directors of the Company has recommended a dividend of Rs. 1/- per equity share of Rs. 10/- each.

2014
-The Board of Directors of the Company has recommended a dividend of Rs. 1/- per equity share of Rs. 10/- each.

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