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Howard Hotels > Company History > Hotels > Company History of Howard Hotels - BSE: 526761, NSE: N.A

Howard Hotels

BSE: 526761|ISIN: INE931B01016|SECTOR: Hotels
Sep 30, 16:00
-0.53 (-4.98%)
VOLUME 1,960
Howard Hotels is not listed on NSE
Company History - Howard Hotels
Howard Hotels Limited was incorporated as a Private Limited Company on
 December 11, 1989 by Mr.S. R.Narula and Mr. Sandeep Narula with an
 object of setting up a Three Star hotel at Fatehabad Road, Agra. The
 company was subsequently converted into a Public Limited Company on
 January 21,1994.
 During the past years, company was mainly engaged in acquiring land,
 construction of Hotel building and placing various orders of plant
 and machinery required for the Hotel. In the year 1990 the company
 acquired about 2700 of land at Mustkil Tajganj, Fatehabad
 Road, Agra. The building plans were approved by the Agra Development
 authority and collector in 1991 and company awarded the building
 civil work and other related work in 1992. The company finalised the
 various plant and machinery orders in 1993 and entered into an
 affiliation agreement with
 Best Western International Inc. and also got his project appraised by
 the PICUP
 The hotel project was conceived as a Three - Star Deluxe hotel with a
 project cost of Rs. 391.80 lacs in the year 1990. The project was to
 be funded through a Promoters' share capital of Rs. 112.40 lacs,
 Interest free Unsecured Loans of Rs. 39.40 lacs and term loans of Rs.
 1 50.0O lacs and Rs. 90.00 lacs by PICUP and UPFC. The promoters felt
 that with the spiralling growth in tourist traffic to Agra, there was
 a need to enhance the facilities to 5-star category so as to cater to
 the needs of the discerning traveller. Accordingly, the promoters
 entered into a
 tie-up with Best Western International Inc. through their Indian
 affiliates and the hotel has now been upgraded with amenities
 confirming to a 5-Star Category Hotel. The Company has applied to the
 Deptt. of Tourism, Govt. of India for getting a status of 5-Star
 Category Hotel. The revised project will have a project cost of Rs.
 950.00 lacs and the same has been appraised by Pradeshiya Industrial
 and Investment Corporation of U.P.Ltd. (PICUP) in June 1994.
 The company had no labour problems in the past. The company is
 presently engaged in completion of their hotel at Agra which is
 likely to be operational by January 95. The financial performance of
 the company since incorporation has been as under and no material
 qualification have been made by the Auditors.
 The share holding of the core promoters shall be Rs. 180.00 lacs
 which comprise 25.35% of the total paid up capital. The core
 promoters hold 100% of the equity in group companies.
 The main objects of the Company as contained in Memorandum of
 Association are as under:
 1. To carry on the business of hotels, rest houses, guest houses,
 holiday resorts, restaurants, coffee houses, recreation rooms, bars
 taverns, lodging-house keeping, inn owners, boathouses, shikara,
 holiday-hut business and game room owners. 
 2. To carry on business of professional caterers, bakers,
 confectioners, cooks, wine and beer merchants, ice cream vendors,
 pastry shop owners, spirit merchants, distillers, brewers, importers
 and manufacturers of aerated minerals and artificial waters and such
 other drinks, of all types purveyors and licensed victuallers.
 3. To purchase, take on lease, hire, erect of otherwise acquire,
 establish and equip and to act as technicians of any other such
 hotels, motels, holiday camps, restaurants, canteens, cafes, pubs,
 bars, refreshment rooms, and casinos in India or in any other part of
 the world.
 4. To act as agents of any hotel company or as buying or selling
 agents of any hotel company, and to do and perform all duties,
 services, and offices which the agents of any hotel company usually
 do and perform and undertake and to become bound by conditions of any
 agreement entered into for any of the purposes aforesaid.
 5. To promote, organise and operate all tourist activities such as
 independent and conducted tours, adventures, expeditions, safaris,
 conferences, meetings and such other group movements both in India
 and outside India by road, rail, air, sea or otherwise.d
 The company has no subsidiaries.
 - Company has created a new email id exclusively for grievances
 -Registered Office of the Company has been shifted From 20, Maurya
 Complex, B-28, Subhash Chowk, Laxmi Nagar, New Delhi-110092 To 805,
 New Delhi House, 27, Barakhamba Road, New Delhi- 110001.
 -Registered Office of the Company has been shifted From 805, New
 Delhi House, 27, Barakhamba Road, New Delhi-110001 To 20, Maurya
 Complex, B-28 Subhash Chowk, Laxmi Nagar, New Delhi-110092.
 - The name of the Corporate Office of the Company has been changed
 from HOWARD SAROVAR PORTICO to HOWARD PLAZA w.e.f. June 15, 2012.
Source : Dion Global Solutions Limited
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