EIH

1949
 
 - The Company was Incorporated on 26th May, at Calcutta.  The
 Company
 undertook Business of Hotel, restaurant, cafe, tavern, beer house,
 refreshment room, lodging and house keeping.  The Company was
 promoted
 by Rai Bahadur M.S. Oberoi and Oberoi Hotels (India) Ltd., in May.
 
 - The Company was built in collaboration with Intercontinental
 Hotels
 Corporation, a wholly owned subsidiary of Pan American World
 Airways,
 and was linked with Inter continental's vast and efficient sales net
 work and was listed on its computerised reservation system known as
 `PANAMAC'.  It is also linked with American Express Space Bank, a
 world
 wide computerised hotel booking system.
 
 1956
 
 - The Company took on lease the Maharaja's Palace in Srinagar and
 converted it into the Oberoi Palace Hotel.  This hotel provided the
 main income for the Company till the end of 1964-65.
 
 1966
 
 - The Company entered into a collaboration agreement with Sheraton
 International Inc., Boston, U.S.A., a wholly owned subsidiary of
 International Telephones and Telegraphs.  The collaboration
 agreement
 was approved by Government in 1967-68.
 
 1968
 
 - By a scheme of merger approved by the Calcutta High Court, the
 Associated Hotels of India Ltd., and Hotels Pvt. Ltd., were
 amalgamated
 with the Company.  By virtue of the amalgamation, the Company
 acquired
 Oberoi Grand Hotel, Calcutta, Oberoi Mount Everst, Darjeeling,
 Oberoi
 Maiden's, Delhi, Oberoi Cecil, Simla and Oberoi Palm Beach, Gopalpur
 and a suitable plot of land at Chennai.
 
 - Mercury Travels (India) Pvt. Ltd., with an issued and paid-up
 capital
 of Rs 35 lakhs is a wholly owned subsidiary of the Company.
 
 1973
 
 - Upon the expiry of the collaboration agreement with Sheraton
 International Inc., U.S.A., on 5th March, 1979, the name of this
 hotel
 was changed from Oberoi Sheraton Hotel to Oberoi Towers Hotel.
 
 1974
 
 - The Company entered into an agreement with the Zanzibar Government
 (East Africa) for providing technical and hotel operating services. 
 An
 agreement was concluded with the National Corporation of Zambia for
 rendering operation services for a luxury hotel in Ndola.  The
 Company
 also finalised an agreement with Adayar Gate Hotels Ltd., Chennai
 for
 rendering technical assistance and operating services for their five
 star hotel under construction in Chennai.
 
 1978
 
 - Partly paid equity shares fully called up (Rs 2 per share during
 1977-78 and the balance Rs 6 per share during 1978-79).
 
 1981
 
 - 13,37,745 bonus equity shares issued in prop. 1:5.  28,55,500 No. 
 of
 Equity shares then issued (prem. Rs 6 per share).  16,05,500 shares
 offered as rights to resident Indian equity shareholders in prop.
 1:5
 (only 14,78,822 share taken up) and 13,76,678 shares (including
 1,26,678 rights shares not taken up) offered to the public in Dec.
 1979.  75,000-11% `B' Pref. shares issued to financial institutions.
 `B' pref. shares redeemable during 27.3.1992/95.
 
 1984
 
 - 15,00,000 No. of Equity shares issued at a premium of Rs 4 per
 share
 on conversion of debentures on 30.10.1984.  49,53,131 bonus shares
 issued in prop. 2:5 on 25.1.1985.
 
 1985
 
 - The Company issued 15% secured redeemable non-convertible
 debentures
 for a total value of Rs 6 crores.  During April 1986, another issue
 of
 non-convertible debentures was made for a total value of Rs 15
 crores.
 
 1986
 
 - A 10 year contract was given to the Company by the International
 Airports Authority to operate all the snack bars and restaurants at
 the
 domestic and International Terminals in Mumbai.
 
 1987
 
 - During Jan.-Feb., the Company offered 25,00,000 - 13.5% secured
 redeemable convertible debentures of Rs 100 each to its equity
 shareholders on rights basis in the proportion 2 debentures for every
 7
 equity shares held (all were taken up).  Additional 6,25,000
 debentures
 were allotted to shareholders to retain over subscription.
 
 - 1,25,000 - 13.5% convertible debentures were offered to the
 resident
 Indian employees of the Company and other associate companies (only
 8,780 debentures were taken up).  The unsubscribed portion was
 allowed
 to lapse.
 
 - A portion of Rs 50 of each debenture was compulsorily converted
 into
 2 equity shares of Rs 10 each at a premium of Rs 15 per share in
 October.  The non-convertible portion of Rs 50 of each debenture was
 to
 be redeemed at par at the expiry of 7th year from the date of
 allotment
 of the debentures.
 
 1988
 
 - The Company entered into a joint venture agreement with Accor of
 France, which owns the Novotel Chain, for the construction and
 development of medium priced hotels in India.  Necessary Government
 approvals were obtained and the joint venture company was registered
 as
 Indus Hotels Corporation Ltd. (IHCL).
 
 - The Company issued 15,00,000 - 14% non-convertible debentures of
 Rs
 100 each aggregating Rs 15 crores to meet a part of the expenditure
 for
 renovation, refurnishing and capacity improvement.  Additional
 2,25,000
 debentures were allotted to retain over subscription.  These
 debentures
 were to be redeemed at a premium of 5% at the end of 7th year from
 the
 date of allotment of debentures.
 
 1990
 
 - The Company offered 15,00,000 - 14% secured redeemable
 non-convertible debentures of Rs 100 each on Rights basis in the
 following proportion:
 
 - (i) 20 debentures for 100 No. of equity shares held;
 
 - (ii) 40 debentures for 1000 equity shares held;
 
 - (iii) 50 debentures for 10,000 No. of equity shares held and
 
 - (iv) for holders of more than 10,000 No. of equity shares,
 debentures
 were to be allotted pro rata according to their respective
 shareholding
 (fraction ignored).  All debentures were taken up and additional
 2,25,000 debentures were allotted to retain over-subscription. 
 These
 debentures are to be redeemed at a premium of Rs 5 per debenture on
 the
 expiry of 7th year from the date of allotment.
 
 1992
 
 - 11% Pref. `C' shares redeemed.  47,20,704 bonus equity shares
 issued
 in prop. 1:5.
 
 1993
 
 - The Company offered 22,71,863 partly convertible debentures of Rs
 150
 each on Rights basis in the proportion 1 deb.: 10 No. of equity
 shares
 held (all were taken up).  Additional 3,39,790 debentures were
 allotted
 to retain over subscription.  Another 3,40,780 partly convertible
 debentures were issued to the promoters and Company's associates on
 preferential allotment basis (all were taken up).
 
 - Rs 50 of the face value of each debenture was to be compulsorily
 converted into 1 equity share of Rs 10 each at a premium of Rs 40
 per
 share on the expiry of 6 months from the date of allotment of
 debentures.  Accordingly 16,11,833 shares were allotted on 19.12.93.
 Remaining Rs 100 of the face value of each debenture was to be
 redeemed
 in 3 annual instalments of Rs 33, Rs 33 and Rs 34 commencing from
 the
 6th year from the date of allotment of debentures.
 
 - 11,35,932 - 15% non-Convertible debentures were issued on Rights
 basis in the proportion of 1 deb.: 20 No. of equity shares held (all
 were taken up).  Each debentures is accompanied by a detachable
 tradeable warrant, entitling the holder to apply for one equity
 share
 of Rs 10 each at a premium of Rs 65 per share exerciseable during
 the
 period after the expiry of 36 months but before the expiry of 60
 months
 from the date of allotment of non-Convertible debentures.
 
 1994
 
 - The Company formed a joint venture with Alfred Mc Alpine
 Construction
 Major Projects Ltd., UK to provide construction and project
 management
 expertise for new projects.  The Company entered into a joint
 venture
 arrangement to build an international golf course, a deluxe hotel and
 a
 health resort in Bangalore.
 
 - As per the terms of issue, 28,67,383 No. of Equity Shares were
 issued
 on 17th October, at a price of Rs 438 per equity share.  As a
 consequence to this issue, the equity capital increased by Rs 28,674
 million and the share premium account increased by Rs 1227.240
 million.
 
 - 28,67,428 No. of Equity shares issued as a consequence of GDR.
 
 1995
 
 - The Company proposed to set up a new joint venture company with
 Eurest International, a subsidiary of Compass Group Plc. on a 50:50
 basis.  The company proposed to transfer the existing airline
 catering
 and airport operations to the new company.
 
 - The Company proposed to issue bonus equity share in the ratio of
 1:2
 to existing shareholders.
 
 1996
 
 - 11,25,114 No. of Equity shares of Rs 10 each (premium Rs 65 per
 share) allotted against detachable warrants which were issued
 alongwith
 16% Rights non-Convertible debentures of Rs 100 each issued in 1993.
 Another, 1,74,64,299 bonus shares issued in propn. 1:2.
 
 - The name of the Company was changed from the East India Hotels
 Ltd.
 to EIH Ltd. with effect from 1st November.
 
 1997
 
 - EIH Ltd, is setting up a joint venture with Goel International
 Hotels
 and Resorts Ltd for a new hotel in Agra.
 
 - EIH set up a joint venture with Hong Kong-based CCA International
 for
 developing, marketing and managing private clubs and resorts in the
 country.
 
 - The entire expansion plan will be through EIH, its 100 per cent
 subsidiary, EIH international Ltd, and joint ventures with various
 partners.
 
 1998
 
 - Mercury Travels Ltd, a wholly-owned subsidiary of EIH Ltd,
 established a subsidiary in Germany called Vision Travels GmbH
 during
 the year.
 
 - Mashobra Resort Ltd, a joint venture with the government of
 Himachal
 Pradesh, and Rajgarh Palace Hotels and Resorts Ltd, a joint venture
 with the government of Madhya Pradesh, have become subsidiaries of
 the
 company.
 
 - EIH Ltd owns and manages hotels under the Oberoi and Trident
 brand.
 The FAAA rating assigned by the Credit Rating Information Services
 of
 India (Crisil) to the fixed deposit programme has been reaffirmed.
 
 1999
 
 - EIH Ltd has unveiled plans of opening four new hotels in the new
 millennium.
 
 2000
 
 - The Company has established direct V-SAT connectivity with
 National
 Securities Depository Limited and Central Depository Services
 (India)
 Limited.
 
 - The Company has recommended introduction of an employee stock
 option
 programme.
               
 - Hotel major EIH Ltd has entered into an agreement with Sukhvinder
 Singh Badal, son of The Punjab Chief Minister Prakash Singh Badal,
 for
 the running of a luxury hotel to be set up at Gurgaon, near New
 Delhi.
 
 - Oberoi Kerala Hotels and Resorts Limited, a Joint Venture with
 Government of Kerala has become a subsidiary of the company.
 
 - EIH Ltd stated that ITC's investment companies have picked up
 6,05,704 shares, indicating that these companies have continued to
 buy
 and sell in EIH stock despite the uncomfortable revelation of such
 buying some months ago.
 
 2001
 
 - EIH, which owns and operates the Oberoi hotels, has reduced its
 staff
 strength by 465 across its properties in Mumbai, Delhi and Calcutta.
           
 - EIH, A member of the Oberoi group, on October 29 reported 79.13
 per
 cent decline in net profit at Rs 1.73 crore during the second
 quarter
 of current financial year.
 
 2002
 
 - P R S Oberoi reappointed as Managing Director on the Board of EIH.
 
 -EIH Ltd has informed that the following changes in the management
 structure of the Company:
 
 Mr Rai Bahadur M.S Oberoi, Mr B K Nehru, Mr P Majumdar expired and
 ceased to be Directors. Mr S K Saha ceased to be Director by
 resignation. Mr S. M. Dahanukar did not seek reappointment on his
 retirement of Directors by rotation.The list of Directors as on
 date:
 Mr P R S Oberoi,Mr S S Mukherji,Field Marshal Sam Manekshaw,Mr Vikram
 Oberoi,Mr Arjun Oberoi and Mr S K Dasgupta.
 
 -P Majumdar ceases to be a Director of EIH Associated Hotels.
 
 -EIH Ltd has informed following changes in management
 structure.Appointment of Additional Directors:Mr Nusli N Wadia, Mr
 Rajan Raheja, Mr Christopher Reeves.Mr P R S Oberoi who was the vice
 Chairman and Managing Director of the Company has been appointed as
 the Chairman in the Wholetime employment of the Company w e f June
 27, 2002.Mr S S Mukherji who was the Deputy Managing Director of the
 Company has been appointed as the Managing Director of the Company w
 e f June 27, 2002.
 
 2003
 
 -EIH Ltd relocates Investors Service Division, which has shifted from
 Kishore Bhavan, 17 R N 
 Mukherjee Road, Kolkota-700001 to the company's registered office at
 4 Mangoe lane,
 6th floor, Kolkota. -700001.
 
 -EIH Ltd has floated its voluntary retirement scheme to its employees
 at Oberoi Grand Hotel,
 Kolkota.
 
 -EIH in alliance with Indian Railways mulls to launch luxury trains.
 
 -Hilton International Co & EIH Ltd announce a strategic alliance for
 co-branding hotels in India under the Trident Hilton brand
 
 - Gujarat Gas signs an agreement with Garden Silk Mills.
 
 2004
 
 -EIH Ltd and Hilton International on April 2 launched a strategic
 alliance that saw seven Trident hotels being renamed as Trident
 Hilton. In addition, the Oberoi Towers in Mumbai will now be called
 the Hilton Towers.