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MITCON Consultancy & Engineering Services Ltd. Company History and Annual Growth Details

The Company was originally incorporated as Maharashtra Industrial and Technical Consultancy Organisation Limited pursuant to a Certificate of Incorporation dated April 16, 1982 issued by the Registrar of Companies, Bombay, Maharashtra. Our Company received the Certificate of Commencement of Business dated December 4, 1982 from the Registrar of Companies, Bombay, Maharashtra.

The name of the Company was changed to MITCON Consultancy Services Limited pursuant to a Fresh Certificate of Incorporation Consequent to Change of Name dated September 7, 2000 issued by the RoC. The change in name of the Company was undertaken to adequately reflect the range of services intended to be provided by the Company in the field of consultancy and ancillary sectors.

The name of the Company was further changed to MITCON Consultancy & Engineering Services Limited and a Fresh Certificate of Incorporation Consequent upon Change of Name dated October 15, 2010 was issued by the RoC.

The Company is currently a deemed government company. In accordance with Section 619 (2) of the Act, the auditors are to be appointed by the Comptroller & Auditor General of India (CAG). The Senior Administrative Officer, on behalf of CAG, vide his letter dated August 20, 2013, approved the appointment of M/s. Joshi & Sahney as Auditors of the Company for FY 2013 - 2014, subject to appointment of a new auditor by CAG if the Company continued to be a government / deemed government company after November, 2013. Further, under Section 619 (3) (b) of the Act, CAG also has the power to conduct a test / supplementary audit on the Company. The Principal Director of Commercial Audit & Ex-officio Member, Audit Board I, Mumbai, on behalf of CAG, conducted a supplementary audit of the Company for FY 2012 - 2013 and provided its comments on the accounts vide letter dated August 27, 2013 stating that nothing significant had come to his knowledge, which would give rise to any comment upon or supplement to the auditorÂs report.

For information on the CompanyÂs activities, services, market, growth, technology, managerial competence, standing with reference to prominent competitors, major suppliers and clients/ customers, please refer to the sections

The Company is a public company limited by shares and its Company Identification Number is U74140MH1982PLC026933. The Company has 25 members as of the date of this Prospectus.

Major events

1993-1994
- The Company was appointed as Indian counterpart of an American consultant, Chemonics to implement in India a US $200 lacs program funded by United States Agency for International Development to promote private sector investment in post-farm. horticulture.

2000 - 2001
- The Company created its own brand of IT education by setting up MITCON e-SCHOOL to take IT literacy to masses.

2001 - 2002
- Indian Renewable Energy Development Agency Limited (IREDA) adjudged the Company as the Best Business Development Associate in the "Technical Consultant Organisation" category.

2002 - 2003
- The Company jointly promoted a Bio-technology Business Incubation center in Pune in association with Asia Pacific Center for Transfer of Technology (APCTT) and Department of Science and Technology, Government of India.

2004 - 2005
- The Company bagged an assignment on DSIR Commerce initiative to promote High Technology Cooperation and Trade between India and CIS countries.

2006 - 2007
- The Company started a new division for Banking & Finance consultancy in October, 2006.

2007 - 2008
- The Company set up its own 0.75 MW wind turbine generator at Idukki in Kerala.
- The Company, in association with Sakal Papers, Pune, launched the "Maharashtra Udyogini Awards" to felicitate annually women entrepreneurs from urban and rural Maharashtra.

2008 - 2009
- Bureau of Energy Efficiency, Government of India as well as Reliance Energy hired the Energy Services of our Company.
- MITCON e - School was awarded Maharashtra IT Award in HR by the government of Maharashtra.

2009 - 2010
- MITCON succeeded in getting a major assignment from Tamil Nadu Electricity Board for promoting 225 MW co-generation power in 17 sugar mills.
-The Company introduced additional business lines like Energy Service Company (ESCo).

2010 - 2011
- The Company successfully completed QCI-NABET accreditation process, which is mandatory for EIA consultants.
- The Company won the Villgro National Award for Best Incubator, 2010.
- The Company established a Food Processing Training Centre at its laboratory in Pune.

2011-2012
- The Company crossed revenue of Rs. 50,00,00,000.

2012 - 2013
- The Company started a new consultancy line for obtaining ISO 50001 EnMS) in industries.
- The Company became a deemed government company pursuant to one of the key shareholders i.e. IFCI Limited, becoming a government company.

Awards and Recognitions

2000
-The Company was awarded a runners-up award at the Maharashtra IT Awards by the Government of Maharashtra for the exemplary performance of MITCON e-school in developing IT literacy in Maharashtra.

2002
-The Company was awarded the Best Business Development Associate of IREDA 2001-2002 under the category of Technical Consultancy Organisation.

2006
-The Company was awarded by Lokmat Sakhi Mancha & Womens and Child Welfare Association

2009
-The Company was awarded by Maharashtra State Agri and Rural Tourism Co-Op Federation Limited (MART), Pune for its contribution for rural development through Agricultural Tourism

2010
-The Company was awarded the Incubator Award by Villgro possible

2010
-Dr. Pradeep Bavadekar, as a representative of our Company, was awarded the Business Express Shree Award by Business Express Shree Foundation

2010
-The Company was honoured for great contribution in Entrepreneurship Development under Rajashri Shahu Entrepreneurship Development Programme

2011
-Dr. Pradeep Bavadekar was honoured with The Enterprise of the Future from the Institute of Management Consultants of India.

2016
-We have received the prestigious "Certificate of Merit" under National Energy Conservation Award -2016
-MITCON secured 1st Postion at the 11th State Level Energy Conservation Awards (Excellence in Energy Conservation & Management).

2020

-MITCON completes the largest overseas assignment in Saudi Arabia with 6 energy audits, 60 walk-throughs reports, and 6 detailed reports.

2021

-MITCON started a new era of providing sustainable energy by setting up a 10 MW Solar Park on 50 Acre in Kini, Akkalkot, Solapur.

-MITCON completes the largest overseas assignment in Saudi Arabia with 6 energy audits, 60 walk-throughs reports, and 6 detailed reports.

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