- Incorporated in 1981 to set up and operate 5-star hotels Hotel LeelaVenture entered into acollaboration with Penta Hotels UK which was subsequently transferredto Kempinski Hotels aEuropean chain of 5-star deluxe hotels owned by Lufthansa the Germanairline. - The Company entered into collaboration agreement with Penta HotelsLtd. (Penta) for a period of 10 years for sales marketing & technicalknow-how.

- Penta also agreed to provide full marketing support to the hotelincluding selling of the hotel by the 3 airline partners of Penta viz.Lufthansa Swissair & British Airways.

- 20 02 939 shares to promoters etc. and 4 27 580 shares withoutpayment in cash to Lela Scotish Lace Pvt. Ltd. in January/February1985 20 69 481 shares were issued at par out of which 70 000 shares toNRI promoters for cash and 99 481 shares to C.K. Kutty (NRI) withoutpayment in cash were reserved and allotted.

- Out of the remaining 19 00 000 shares 6 50 000 shares to NRIs onrepatriation basis and 38 000 shares to business associates of theCompany were reserved and allotted on a preferential basis. Thebalance 12 12 000 shares were offered for public subscription duringFebruary 1985 (all were taken up).

1986

- The company set up its first 5-star deluxe hotel Leela Penta inBombay in 1986. It was renamed Leela Kempinski in 1988 following thechange in its marketing and sales tie-up. It undertook an expansion ofits hotel in Bombay by constructing a tower block comprising anadditional 172 rooms including suites. Simultaneously it alsoundertook the construction of a new 5-star deluxe resort at Goa whichwas part-financed by a rights issue in Sep.'91. Consequent on theenhancement of facilities and upgradation of standards aggregate costescalated and the financing for the project had to be revised due towhich the company came out with a rights NCDs issue with detachablewarrants aggregating Rs 49.09 crores in 1995.

- 45 00 000 rights equity shares issued at par in prop. 1:1 duringJuly/August.

1987

- The hotel de-linked itself with Penta & entered into technical Sales and Marketing agreement with Kempinski hotel S-A Switzerland apart of the Lufthanas Chains of hotel.

- The Company undertook to set up a 5-star Deluxe Airport Hotel ofinternational standards.

- In view of the large scope for occupancy at the International Airportand in view of the acute shortage of hotel guest room it was decidedto increase the number of guest rooms from 205 to 282. It was alsodecided to add a large banquet hall and conference rooms to thefacilities.

- The hotel was assigned a 5 star deluxe status during the year. Inrecognition of this rating the collaborators Penta Hotels Ltd.assigned the technical sales and marketing agreement in favour ofKempinski hotels S.A. Switzerland both groups being in the Lufthansasystem of hotels.

- The Leela Bombay was conferred by the Government of India Department of Tourism the highest honour in the hospitality industryviz. the National Tourism Award for 1997-98 for outstanding performancein the five star deluxe category hotels in India.

1988

- It was proposed to expand the existing capacity by addition ofanother 192 rooms.

- With effect from 15th October the name of the hotel was changed to`The Leela Kempinski Bombay' in view of the assignment of the franchiseagreement to Kempinski hotels from Penta hotels.

- 28 00 000 No. of equity shares issued at par to Lela Scottish LaceLtd. in conversion of their unsecured loans.

- The Leela Palace Goa has started its operation in Sep 1998. Thehotel has been upgraded to a world class beach resort and has beenacclaimed as one of the finest resorts in the world.

1989

- During August the Company offered 9 00 000-14% secured redeemablenon-convertible debentures of Rs 100 each on `rights basis' in theproportion 1 deb.: 10 equity shares held. Only 10 429 debentures weretaken up. The remaining 8 89 571 debentures devolved on theunderwriters.

- These debentures were to be redeemed at a premium of Rs 5 perdebenture in three equal annual instalments of Rs 35 each on the expiryof 7th 8th and 9th year from the date of allotment of debentures.

- During August 59 00 000 Rights shares issued at par in prop. 1:2.Additional 8 85 000 shares were allotted to retain oversubscription.Simultaneously another 2 95 000 shares were issued at par to employeesbut only 500 shares taken up. The balance 2 94 500 shares were allowedto lapse.

1991

- In Sept. 92 92 750 rights shares issued at par in prop. 1:2.Additional 13 93 912 shares were allotted to retain oversubscription.Another 4 64 630 shares offered at par to employees but only 7 650shares taken up. Out of the remaining 4 56 980 shares 4 50 000 sharestaken up by financial institutions and the balance allowed to lapse.

1992

- The Company proposed to add 43 guest rooms at the Leela Beach Goa.During the year the Company concluded negotiations for purchase of aplot of land adjoining the hotel property at Mumbai for theconstruction of a new deluxe all suite hotel consisting of about 200suites.

1993

- The Company commissioned 60 new rooms at the Leela Beach Goa and setup a mini golf course of 9 holes.

- The Hotel has opened a spectacular entertainment outlet viz. `Cyclone-The Club'.

1994

- The Company had issued Warrants to its promoters including friendsand associates on preferential basis. On conversion of the saidWarrants on 9th November 30 lakh equity share were allotted at apremium of Rs 128.14 per share.

- A MOU was entered into with Four Seasons Hotels & Resorts ainternational chain of hotels to operate the Leela Palace Bombay atAndheri Kurla Road.

1995

- The company proposed to enter into business of full fledged moneychangers and allied activities.

1996

- The Company allotted 30 00 000 CCP of Rs 100 each.

- The Leela Beach Goa underwent upgradation and refurbishment as perrecommendations of Four Season Hotels & Resorts which would bemarketing and operating the resort.

- The Company also initiated steps to set up a `5' star deluxe hotel atBangalore with Four Seasons Hotels & Resorts.

- The Company entered into a management agreement with Four SeasonHotels Canada for management of Company's hotels and resorts atMumbai Goa and Bangalore.

- The Company proposed to change its object clause which the Companywas authorised to carry on the business of power generation and alliedactivities and dealing in foreign Exchange and to act as moneychangers.

- 1 00 000 - 16% CCP of Rs 100 and 29 00 000 - 17% CCP of Rs 100 issuedon private placement basis.

1997

- The company undertook to set up a beach resort consisting of 300villas at Goa. Technical services and sales and marketing agreementwas signed with Kempinski hotels S.A. for the project.

- Hotel Leela Venture Limited incorporated in 1981 to set up andoperate 5-star hotels entered into a collaboration with Penta Hotelsof UK which was subsequently transferred to Kempinski Hotels aEuropean chain of 5-star deluxe hotels owned by Lufthansa the Germanairline.

- The company set up its first 5-star deluxe hotel Leela Penta inMumbai in 1986.

- Hotel Leelaventure had signed a 30 year lease agreement with AAI inFebruary 1996 for 11 000 sq mts of land for expansion of its hotel by150 rooms.

- HLV will be setting up hotels in the five star deluxe category atBangalore Delhi Mumbai and Goa.

- The company has also set up a subsidiary company Leela Hotels Ltd. which will promote two greenfield projects.

1998

- Investment Information and Credit Rating Agency (ICRA) has placed thenon-convertible debenture and fixed deposit programmes of HotelLeelaventure Ltd. under rating watch.

- The company's Rs 49.1-crore fixed deposit (FD) programme with acurrent rating of MAA minus has also suffered the same fate.

1999

- The five star hotel project has been undertaken by the 100 per centsubsidiary of Leela Hotels Ltd (LHL) on a controversial plot the sameplot was allotted earlier to MS Shoes East Ltd.

- Leela Hotels Ltd a subsidiary of Hotel Leelventure Ltd was awardedan interim relief the Delhi High Court after Leela sought legalredressal.

- Leelaventure is spreading its wings and has set eyes to build a hotelin the scenic backwaters of Kerala.

- The lease agreement with LSLL makes it paramount for the company toget a commercial complex built on the land with an area of 15 000square meters.

2000

- The Company has allotted balance 80 47 4000 No. of equity shares tothe promoters of the company viz. Leela Scottish Lace Ltd.

- The Company appointed a Dr. K. U. Mada as the Director and Mr VenuKrishnana as an Executive Director effective from 29th January.

- Mr. M. Narasimhan has resigned as the Director effective fromSeptember 20.

- The Company issued 15630000 Equity shares of Rs 10/- each at apremium of Rs 21 per share to the promoters of the Company M/s LeelaScottish Lace Limited on 6th April 2000 on fully paid basis.

2001

- Hotel Leelaventure is setting up a five-star deluxe resort propertyin the Kannur district of Kerala state. The 100-room property would bedeveloped by its wholly-owned subsidiary Vision Hotels and would becompleted by the end of 2001. The 300-room Bangalore five-star hotelhad a soft launch on 15th July 2001. In the first phase 77 guestrooms are expected to be in commercial operation from August 2001 andthe rest of the rooms with full compliment of facilities are expectedto be progressively completed by the end of 2001.

- During the year 2001 the company also formed an arrangement for ajoint venture to develop a large commercial complex on the land ofAndheri-Kurla road Mumbai.

2002

-Dr. Gunter resigns as director of the company

-Board approves the proposal for amalgamation/merger of Leela Hotels witn Hotel Leelaventure

2003

-Ties up with General Hotel Management (GHM) Singapore the holding company of Aman Resorts for its Goa property

-Board approves voluntary delisting from Ahmedabad Bangalore Cochin Delhi and Mangalore Stock Exchanges

-Board approves allotment of Non Cumulative Redeemable Preference Shares (NCRPS) of Rs 317.50 million to the Holding Company Leela Scottish Lace Pvt Ltd.

2004

- Delisting of the equity shares of the Company from Ahmedabad Bangalore Cochin Delhi and Mangalore Stock Exchanges.