NMDC Steel was incorporated as an unlisted Government Company under the provisions of Companies Act, 2013 on January 2, 2015 within the jurisdiction of the Registrar of Companies, Chhattisgarh. Pursuant to the Scheme of Arrangement, upon the coming into effect of the Scheme and with effect from the Appointed Date, and subject to the provisions of Scheme, all the properties and assets (tangible and intangible assets including goodwill) and liabilities of the Demerged Undertaking will be transferred to the company at values appearing in the books of accounts of the Demerged Company immediately before the demerger, in accordance with Section 2(l9AA) of the IT Act.
The Demerged Undertaking shall, without any further act, instrument or deed, be demerged from the Demerged Company and stand transferred to and vested in and/or deemed to have been demerged from the Demerged Company and stand transferred to and vested in the Resulting Company as a going concern, in the manner provided in the Scheme.
NMDC Steel was incorporated as a wholly owned subsidiary of NMDC on January 2, 2015, under the Companies Act, 2013 with a registered office at NMDC Iron & Steel Plant, Nagarnar (Bastar, Chhattisgarh). The now demerged company NMDC Steel is a central public sector enterprise with a paid-up capital of Rs 2,930 crore owned by the Government of India, under the administrative control of the Ministry of Steel. The Government owns 60.79% stake in this company.
Main objects of the company
To carry on in India and elsewhere the trade or business or manufacturing, prospecting, raising, operating, buying, selling, importing, exporting, purchasing otherwise dealing;
• in stainless steel, silicon steel, special steel, mild steel and in allied products, fireclay, dolomite, limestone, refractories, iron ore, bauxite, cement, chemicals, fertilizers, manures, distilleries, dye making and industrial and non-industrial gas, lime burners, stone quarrying, concrete manufacturing in all respective branches, and other allied input or other materials, and, for that purpose to construct, install, operate, manage and maintain all plants, mines, establishments, works etc.
• in iron and steel of all qualities, grades, types and kinds as iron mongers, iron masters, steel makers and steel converters
• in Ferro Silicon, Ferro-Chrome and/or all products made of Iron and Steel, Coking coal, Manganese, Ferro manganese, Limestone, Refractories, Iron-ore and other alloys
• as miners, smelters, iron founders in all respective branches
To do consultancy services required to design, establish, provide, maintain and perform engineering and related technical and consultancy services for the development of ferrous and non-ferrous metallurgical enterprises, chemical and petrochemical enterprises, fertilizer plants, cement plants, refractory plants, laboratories for control and/or research purposes, water works, gas works, sewage disposal plants, thermal and hydro-electric power stations, electrical generators, transmission and distribution and all other types of industrial projects, and for that purpose to prepare and get prepared feasibility reports, detailed project reports, market studies, techno-economic investigations, survey of all types, site selection, planning basic and process engineering, preparing specifications and documents, tender evaluation and purchase assistance, detailed design and working drawing, shop inspection, expediting construction, supervision, project management, commissioning, operation and maintenance, training of personnel, pre and post operation consultancy and any such other services.
To construct, execute, carry out, improve, develop, manage or control iron and steel works and by-products and ancillary plants, fertilizer plants, coke ovens, foundries furnaces, bricks kilns, refractory works, factories, railways, tramways, ropeways, runways, roads, aerodromes, docks, harbours, piers wharves, dams, barrages, weirs, reservoirs, embankments, canals, irrigation, power houses, transmission lines, reclamation, improvement, sewage, drainage, sanitary, water, gas, electric, light, telephone and power supply works and hotels, houses, markets and buildings, private or public, and all other works, conveniences whatsoever, and generally to carry on the business of builders, contractors, engineers architects, estimators, and designers in all their respective branches and to undertake works on contract basis for civil engineering, mechanical engineering, electrical engineering, erection engineering, water supply, etc. and to tender for such works, and to undertake consultancy services in the above fields, general accounting, material management, industrial engineering and other management services, etc.
To plan, promote, and organise an integrated and efficient development of the iron and steel and its associated input industries such as iron ore, coking coal, manganese, limestone, refractories etc.
To purchase, take on lease or in exchange or under amalgamation, licence or concession, or otherwise acquire mines, Coal blocks, beneficiation, mineral dressing, concentration and refining plants, including Plants like Metallurgical plants, Steel plants, lands, buildings, workshops, power-generation units, transmission and distribution system or any other power systems plant & equipment, machinery, sidings, locos, works and any rights and privileges, or interest therein and to explore, prospect, work, develop, administer, manage or control and to turn to account the same.
To acquire by lease, grant, assignment, transfer or otherwise any grants or concessions of any mineral fields, mines, mineral and mine contracts, works and premises from any person or persons, Corporation, Company, Government or local body in India or elsewhere, and to perform and fulfill the conditions thereof.
To construct, execute, carry out, equip, improve work, purchase or otherwise acquire, lease, develop, administer, manage or control in India or elsewhere works and conveniences of all kinds which expression in this Memorandum includes mines, Coal blocks, beneficiations, mineral dressing, concentration and refining plants, including Metallurgical like Steel plants, quarries, Cement plants, barrages, dams, sluices, locks, embankments, moles, break-waters, docks, quays, harbours, piers, wharves, canals, tanks, bridges, aqueducts, reservoirs, irrigations, reclamation, improvement, river-works of all kinds, railways, ropeways, tramways, road, sewage, drainage, sanitary, paving, water, gas, electric, light, telephonic, telegraphic, wire-less, power generation, transmission and distribution system non-conventional energy units like windmill, solar energy, etc, and power supply works, and hotels and warehouses, markets and buildings, private or public, workers dhowras and houses, villages, sheds, dwellings, offices, shops and stores and all other works or conveniences whatsoever.
History and milestones
- 2015: Incorporation of the company
- 2023: Approval of the Scheme by MCA