Mefcom Capital Markets Share price

Mefcom Capital Markets Ltd. is an existing profit making companyhaving its registered office at 12/3 Asaf Ali Road New Delhi110002. The company was incorporated on 2nd January 1985 as aPublic Limited Company under the name and style of VidhataLeasing Ltd. and was granted certificate of commencement ofbusiness on 16th March 1985 by Registrar of Companies Delhi andHaryana.The Management of the company changed hands w.e.f. January 1990after which it became a Mefcom - Group company. At the time ofthe change in management the Company was a dormant unlistedCompany with 7 share holders and paid up capital of Rs. 70 only.Hence the provision of regulation 40(a) and (b) of the listingregulation are not applicable in this case. The first publicissue opened for public subscription on 15th January 90. Themain objects of the issue were: (i) To meet the working capitalrequirements of the company (ii) To meet the issue expenses.Future projections regarding the working of the company were notgiven in the offer document as they were not required as per theguide lines then in force therefore the actual performance cannot be compaired. The name of the company was then changed toMefcom Finlesse Mutual Fund Ltd on 26th March 1990 and freshcertificate of incorporation was issued consequent upon changeof name on 18th May 1990. The name of the company was againchanged to Mefcom Capital Markets Ltd on 6th December 1990 andfresh certificate of incorporation was issued consequent tochange on 18th Dec. 1990. In effect therefore the companystarted working only w.e.f. Financial Year 1991-92 which shouldbe construed as its first year of operations as it was a dormantcompany before change of management.The company received its approval as Category II MerchantBankers on 26th February 1991 from Securities & Exchange Boardof India (SEBI).It was upgraded as Category I Merchant Bankers from 1st February1993. From its approval till 30.09.1994 the company has beenassociated as explained elsewhere in the Prospectus with themanagement of 82 public Issues. The Company is also APPROVED BYRESERVE BANK OF INDIA (RBI) as FULL FLEDGED FOREIGN EXCHANGEMONEY CHANGERS since May 1993. It is also approved as AuthorisedDEALER on OTC EXCHANGE OF INDIA (OTCEI) w.e.f.October 1993.