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Lords Ishwar Hotels Ltd. Company History and Annual Growth Details
ISHWAR BHUVAN HOTELS LIMITED was originally incorporated on the 14th day of November, 1985 as ISHWAR BHUVAN HOTELS PVT. LTD. The Company was converted into a Public Limited Company on April 7th, 1994 and subsequently the name of the Company was changed to ISHWAR BHUVAN HOTELS LIMITED and a fresh certificate of incorporation was obtained.
The Company acquired a non agricultural plot of land admeasuring 1278 sq.mtrs in 1985 from M/s. Haribhakti Investments Corporation at a total cost of Rs. 25.02 Lacs. The Company thereafter obtained the Urban Land Ceiling permission which almost took one year. Later the company applied for the Municipal Permission to Baroda Municipal Corporation for the building plans for a Three Star Hotel Project. The same was obtained in 1988. The company also obtained the approval of Tourism Development Corporation, Bombay. The excavation and site development work started in 1989 alongwith the building construction. In the same year the group started another Restaurant Project in Bombay which necessitated the stalling of work in progress in Baroda. After the launch and opening of the restaurant ('Revival') in the year 1991, the construction activities was restarted during October 1993 and the three storey building construction was completed by December, 1994. The company during this period prepared the fresh project report for the Baroda Project and approached the financial institutions for the participation in the project by way of term loan. The company received the formal sanction of the term loan of Rs. 200 lacs from TFCI vide their letter dated 25/10/94.
-Ishwar Bhuvan Hotels Ltd has delisted Equity Shares of the Company by the Delisting Committee from the Ahmedabad Stock Exchange Ltd (ASE).