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Mahindra Lifespace Developers > Company History > Construction & Contracting - Civil > Company History of Mahindra Lifespace Developers - BSE: 532313, NSE: MAHLIFE
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Mahindra Lifespace Developers

BSE: 532313|NSE: MAHLIFE|ISIN: INE813A01018|SECTOR: Construction & Contracting - Civil
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Company History - Mahindra Lifespace Developers
GESCO Corporation Limited (the Company) was incorporated as a Private
 Limited Company on March 16, 1999 and converted to a Public Limited
 Company on August 18, 1999.
 
 Pursuant to the Scheme of Arrangement between the Company, The Great
 Eastern Shipping Co. Ltd., (the Demerged Company) and their
 respective
 shareholders, as approved by the Hon'ble High Court at Bombay on
 August
 26, 1999, the assets and liabilities pertaining to the business
 activity of managing, developing and operating of commercial
 properties
 of the property development division of The Great Eastern Shipping
 Co.
 Ltd. (the demerged undertaking), were transferred to and vested on
 demerger in the Company with retrospective effect from April 1,
 1999.
 During the transition period from the Appointed date to the
 Effective
 date i.e. April 1, 1999 to February 9, 2000, The Great Eastern
 Shipping
 Co. Ltd. carried on the aforesaid business activities of managing,
 developing and operating commercial properties in trust': on behalf
 of
 the Company.  The Scheme has, accordingly, been given effect to in
 these accounts.
 
 Pursuant to the Scheme of Arrangement, 2,88,10,317 equity shares of
 Rs.
 10/- each have been issued to the shareholders of The Great Eastern
 Shipping Co. Ltd. in the ratio of one share of the Company for every
 ten shares in the demerged Company and the assets, liabilities, and
 reserves of the demerged undertaking as at April 1, 1999 have been
 taken over at their book values.
 
 Accordingly, Share Premium of Rs. 46,53,36,123 and General Reserve
 of
 Rs. 75,83,93,057 representing the excess of the net book value of
 assets of the demerged undertaking over the aggregate face value of
 the
 share capital issued to the members of the Demerged Company have
 been
 credited as reserves taken over.
 
 In terms of the Scheme of Arrangement, the Company has taken over
 the
 employees of the Demerged Company relatable to the business activity
 taken over on the same terms and conditions on which they were
 engaged
 in The Great Eastern Shipping Co. Ltd. The accumulated funds in
 respect
 of Provident Fund, Gratuity, Pension and / or Superannuation
 pertaining
 to the transferred employees will be transferred to the Company's
 Funds
 on completion of the legal formalities for creation of such Funds.
 
 The Company is in the process of transferring the documents,
 agreements, title deeds for the properties etc. in the name of the
 Company.
 
 The Board of Gesco Corporation is meeting to consider a scheme of
 amalgamation
 with Mahindra Realty & Infrastructure Developers.
 
 2001- The company has informed that, Eastern Resin & Allied Products
 Ltd. (Sikkim) has acquired 17,75,185             (6.17%) shares of
 the company.
 
 2001-  The Sikkim-based Eastern Resin & Allied Products Ltd on Friday
 acquired 17,75,185 shares of GESCO Corporation Ltd.
 
 2003
 
 -Mr Suvir Ahuja, Managing Director of the Mahindra Gesco Developers
 Ltd has expressed his desire to resign from the services of the
 Company with effect from August 27, 2003 and has tendered the
 required notice. The matter will be formally placed before the Board
 at its next proposed meeting to be held in the last week of July
 2003.
 
 -i) Mr. Sudhir Mulji, Non-Executive Chairman of the Company resigned
 as a Director with effect from October 17, 2003; ii) Mr. Sanjiv
 Kapoor has been appointed as an Additional Director at the Board
 Meeting held on October 31, 2003.
 
 2007
 
 - Company name has been changed from Mahindra Gesco Developers
 Limited to Mahindra Lifespace Developers Ltd.
 
 
 2008
 
 - IGBC Green Homes Precertified Platinum.
 
 - AESA Gold Award, 2008 for The Woods, Wakad, Pune, The Best Project
 in Group Housing Category in Pune.
 
 
 2009
 
 - Mahindra Splendour awarded winner in the category of Best
 Developer Green Future Development by Cityscape Real Estate India.
 
 2010
 
 - Mahindra Lifespaces wins The Economic Times ACETECH award under the
 category Excellence in Mid Segment (Exterior Architectural Design)
 for project Eminente Wings Vervian & Veronica  on the 11th
 November, 2010. 
 
 - Wins Gold for Refresh Newsletter Design and Silver for Aqualily
 Brochure Design at the 50th Annual Awards of the Association of
 Business Communicators of India (ABCI) .
 
 - Mahindra Lifespaces Awarded One of India's Top 10 Builders 2010 by
 Construction World. 
 
 
 2011
 
 - For the second consecutive year, MLDL has been voted as one of
 Indias Top 10 Builders by CONSTRUCTION WORLD and CW INTERIORS.
 
 - Splendour was the Second Best of the top three Finalists in
 KPMG-Qimpro Convention 2011 under Category Green Initiatives in
 Service Sector.
 
 
 2012
 
 - Mahindra Lifespaces enters Nagpur - launches a premium residential
 project, Bloomdale.
 
 - Mahindra Lifespaces releases first ever Global Reporting Initiative
 report.
 
 - Mah.Lifespac - Mahindra Lifespaces debuts in Hyderabad with
 Ashvita - a premium residential complex.
 
 2013
 -Mahindra Lifespace Developers - Mahindra World City, Jaipur signs
 Prithvi Steels.
 -Mahindra Lifespaces and Standard Chartered Bank to form joint
 venture for development of residential real estate in India.
 -Mahindra Lifespace has acquired a land parcel in MMR region for
 residential development having an estimated development potential of
 around 0.50 million square feet.
 -Mahindra Lifespace has entered into a collaboration agreement to
 undertake a Group Housing Project at Gurgaon, Haryana having a
 development potential of approx.1 mn sq.ft.
 -Mahindra World City, Jaipur signs PERTO S.A. from Brazil.
 
 2014
 -Mahindra Lifespaces forays into weekend homes; Launches The Serenes
 - Exclusive Villas in Alibaug.
 -Mahindra Lifespace launches 2nd Happinest project in Boisar,
 Maharashtra.
 -Mahindra Lifespace has acquired a land parcel in MMR region for
 residential development having an estimated development potential of
 around 0.33 million square feet of saleable area. It will be a joint
 development project under residential housing segment.
 -Mahindra Lifespaces launches its first Happinest project in Chennai
 Homes starting from Rs. 9.9 Lakhs.
 
 2015
 -Mahindra World City announces Joint Venture with Sumitomo
 Corporation for New Industrial Park
 -Mahindra Lifespace to launch new project in Bengaluru
 -Mahindra Lifespaces announces its foray into Bengaluru 
 -Mahindra Lifespace acquires land parcel in Maharashtra
 -Mahindra Lifespaces Splendour wins the ACETECH Alpha Award for
 Best Developer Residential Project
 
 2016
 -Mahindra Lifespace Developers Ltd Change of Registrar and Transfer
 Agent of the Company.
 -Company launches  Mahindra World City, Chennai launches new phase of
 industrial zone.
 
 
Source : Dion Global Solutions Limited
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