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Mac Charles (India) Ltd. Company History and Annual Growth Details

YEAR EVENTS
1979 - The company was incorporated on 28th October. The important object of the company
was to set up a five star Hotel at Bangalore.

1987 - The company's authorised capital was increased from 6 crore to 8 crores.

- The foreign collaboration of the company is Holiday Inn. Inc. ; a Division of BASS PLC
London.

- Kapi Investment Inc Limited, Isle of Man, is the holding company of Mac Charles (India)
Limited.

1991 - It held 2,807,300 equity share of the total 48,75,000 equity shares forming the issued,
subscribed and paid up capital of the company as on 31st March.

1997 - The Company has finally signed the franchise agreement with 'Le Meridien' for the
next 10 years with effect from 1st July.

2000 - The promoters of the company have bought back 2,00,000 shares of Rs. 10/- each
of the company held by IDBI @ Rs. 30/- per share.

2001 - The Company has acquired 39.67 per cent equity shares (1,19,02,107 No. of equity
shares of Rs 10 each) of the total issued and paid-up eqity share capital of 3,00,00,000
equity shares of Rs 10 each of Bramha Bazaz Hotels Ltd, Pune, which owns Hotel Le
Meridien, Pune.

2002- Mac Charles (India) acquires 100% stake in two private companies.
1. Vaswani Properties Pvt. Ltd. - 90000 equity shares of Rs.10/- each
2. Vaswani Investments and Holdings Pvt. Ltd. - 50000 equity shares of Rs.10/- each.
 
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