The company was incorporated as ‘Metal Scrap Trade Corporation Limited’, under the provisions of the Companies Act, 1956 on September 9, 1964 at Kolkata and the Certificate of Incorporation was issued by the Registrar of Companies, West Bengal at Kolkata (RoC). Subsequently the name of company was changed to ‘MSTC Limited’ pursuant to the special resolution passed by the shareholders in the general meeting held on September 26, 1994 and a fresh certificate of incorporation consequent upon such change of name was issued by the RoC on November 9, 1994.
Business area of the Company:
MSTC is one of the leading PSU entities engaged in providing e-commerce related services across diversified industry segment offering e-auction/e-sale, e-procurement services and development of customized software/solutions. It has emerged as a pioneer in the e-auction segment catering to the Government sector, partnering with different Government agencies and ministries in conducting e-Auctions. It is one of the key players offering comprehensive range of services in e-procurement segment. Also, the company develops e-commerce modules (i.e. e-commerce application software) for providing customised e-commerce services to its principals.
Major Events and milestones:
1964: Incorporated for export of scrap.
1973: Became a subsidiary Company of SAIL.
1979: Investment in Ferro Scrap Nigam Limited.
1982: Became an independent GoI Company under MoS.
2001: Accorded with Mini Ratna Category – II.
2002: Acquisition of remaining shares of Ferro Scrap Nigam Limited vide share sale agreement dated June 29, 2002 by virtue of which it became our wholly owned subsidiary.
2004: Commenced e-auctioning of coal.
2007: Upgraded to Schedule ‘B’ Company.
2010: Commenced e-auction of Tea.
2011: Commenced E-Auction of human hair.
2012: Commenced e-auction of iron ore in Karnataka.
2012: Commenced e- auction of chrome ore and chrome concentrate for Odisha Mining Corporation.
2012: Signed milestone agreement with Government of Andhra Pradesh for e-commerce services.
2015: Commenced e-auction of coal mine blocks and subsidy disbursement for re-gasified liquefied natural gas.
2016: Entered into a JVA with MIL for setting up an auto shredding plant at Greater Noida, Uttar Pradesh.
2016: Launched E-mall MSTC Metal Mandi M3 portal.
2017: Conducted the first ever reverse auction of selection of Inter State Transmission Service Provider.
2017: Commencement of portal “E-RaKam” for selling agricultural produce in collaboration with CRWC.
2017: Developed application for online lottery of LPG distributors by OMC for conducting on-line computerized draw of lots as per the requirement of the OMC.
2018: Entered into a Memorandum of Agreement with Transport Department, Government of NCT, Delhi for scientific collection, dismantling and recycling of vehicles.
Awards and Recognition
2016-17: Awarded the ‘Rajya Bhasha Puraskar’ by Muncipal Offical Language Execution Committee, Kolkata for its excellent efforts in execution of working in official language.
2017-18: Awarded the ‘Kolkata Best Employer Brand Award 2017’ by Dewang Mehta, National Education Awards.
2017-18: Awarded the ‘Ispat Rajya Bhasha Vishisht Samman’ for official language for doing excellent work in the area of Hindi by MoS.
2017-18: Awarded the 1st prize in Rajya Bhasha Kriti Award by Department of Offical Language, Ministry of Home Affairs for its excellent efforts in execution of working in official language.
2017-18: Awarded the 3rd prize by Municipal Official Language Execution Committee, Kolkata for its excellent efforts in execution of working in official language.
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