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Jindal Hotels Ltd. Company History and Annual Growth Details

The company was incorporated on 4th May, 1984 as a private limited Company. Pursuant to the resolution passed at the Extraordinary General Meeting of members held on 5.1 2.1985, it was converted into a public limited company and fresh certificate of incorporation deleting the word
'private' was obtained on 24.1.86 from Registraer of Companies, Ahmedabad, Gujarat. The main object of the company is to carry on the business of Hotel and Restaurants. The Company has entered into the capital market in August, 1986 by an issue of Equity Shares to the
tune of Rs.104.98 lacs. since, It has been running as a 3 star Category Hotel under the name and style 'HOTEL SURYA PALACE', at Baroda.

During the initial years of commercial operations, the company faced numerous problems viz. frequent communal riots in the City of Baroda, consecutive bad monsoon in the year 1987 & 1988, postponement of various public sector projects, resultant industrial depression, economic
recession etc. These factors altogether resulted in lower sales and consequent losses for the Company. Due to effective management, company's losses remained under control in these difficult From the year 1991, the company turned the corner and started earning profits. The
company's successful operations during last 4 years are reflected in the increase in its turnover from Rs. 176 lacs in the year 1990-91 to Rs. 320 lacs in the year 1993-94 and a rise in net worth from Rs.4.91 lacs to Rs.86.16 lacs. Considering the emerging market potential and its sound footing in the market as a leading hotel in Baroda company
proposes to expand and upgrade the existing Hotel by raising the funds through Right Issue of Equity Shares.

2004

-Jindal Hotels Ltd has informed that the equity shares of the company have been delisted from Ahmedabad Stock Exchange wef March 31, 2004.


2009

- Jindal Hotels Ltd has informed that the Board of Directors of the Company at its meeting held on January 20, 2009, inter alia, has accepted the resignation of Shri Piyush D Shah as Chairman and consequently to that Shri Ambalal C Patel was appointed as Chairman of the Company.
 
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