Adaptive gain equalizer (AGE) is a commonly used single-channel speech enhancement algorithm. AGE and its variants has been widely used for speech enhancement applications. There are two broad categories of these variants. The first deals with its improvement in time-frequency domain with readjustment of the used parameters and the second one deals with performing the main filtering operation in modulation frequency domain. This paper evaluates the working of AGE in modulation frequency domain with the use of a demodulation technique which solves the demodulation process as a convex optimization problem. The performance of the modified AGE is compared with the traditional AGE and another modulation frequency domain AGE based on demodulation using the spectral center-of-gravity. These used performance measures are Signal to Noise Ratio Improvement(SNRI), Spectral Distortion(SD) and Mean Option Score(MOS).