Company History: YEAR EVENTS1970 - The company was incorporated on 18th September 1970. The company was promoted by Reddy Group of South India to set up and operate a hotel of international standards. - The company entered into a Technical Assistants Agreements and an Operating Contract with the Indian Hotels Company Ltd. (IHC). IHC owns and operates Taj Mahal Hotel and Taj International Hotel at Mumbai.
- Under the Technical Assistance Agreement IHC were to provide the Company with a detailed project report review and advise in the preparation of civil mechanical and electrical plans and specifications render certain services in decorating the hotel and inspect the site periodically.
1972 - All shares issued to promoters etc. (1 50 000 shares without payment in cash).
1974 - In Jan. 1974 10 000 Pref. and 8 10 000 No. of equity shares were offered at par for public subscription.
1975 - By the middle of February the entire hotel was functioning with 224 guest rooms including 2 large suites a coffee shop an Indian restaurant called "Mysore" a Chinese restaurant called the "Golden Dragon" a bar banquet hall 2 conference rooms and a swimming pool.
- 32 350 No. of equity shares forfeited. These were reissued to the existing members at Rs 7.50 per share. 1 00 000 No. of equity shares offered at par to The Indian Hotels Co. Ltd. and D.S. Reddy's relatives and friends.
1985 - The Company signed an agreement with Covelong Beach Hotel (India) Ltd. to operate their Fisherman's Cove Beach Resort near Chennai from 1st April.
1988 - The Company entered into an agreement with the International Airports Authority of India (IAAI) for operating the snack bars at the domestic and international terminals at Chennai airport.
- Pref. shares redeemed on 1.10.1988. 5 80 000 bonus equity shares issued in prop. 2:5.
1989 - The Company offered 4 06 000 rights equity shares at a premium of Rs 15 per share in the proportion 1:5. Additional 60 900 shares were allotted to retain oversubscription.
- The Company issued 20 300 equity shares at a premium of Rs 15 per share to the employees under the Employees' Stock Option Scheme. Additional 3 040 shares were allotted to retain oversubscription.
1990 - Effective from 1st April the Company obtained the licence to operate the 28 cottages 10 cabanas and the shopping arcade at Fisherman's Cove Beach Resort Chennai.
- The Company proposed to expand its activities in the form of a cake shop and a fast food outlet at Anna Nagar Chennai.
- Effective 15th May the Company suspended the operation at Sea Pearl Hotel Visakapatnam for renovation and expansion. The renovated hotel was recommissioned for operation in August 1992.
1993 - The Company offered 21 17 002 Rights equity shares of Rs 10 each at a premium of Rs 60 per share in proportion 3:5 (all were taken up).
- Another 1 05 850 No. of equity shares of Rs 10 each were issued at a premium of Rs 60 per share to employees of the company and associate companies on an equitable basis. (1 05 688 shares taken up).
1994 - The lobby lobby lounge and the bar of the Company's flagship hotel Taj Coromandel Chennai were commissioned after renovation in November.
- The Company concluded an agreement with OHL International (HL) Ltd. for reordering technical services for the operation of Executive Plaza Hotel Chicago USA.
- The Company issued 23 52 941 GDRs at an issue price of US $12.75.
- Orient Holdings Ltd. OHL International (HK) Ltd. and Coromandel Hotels Ltd. are the subsidiaries of the Company.
1996 - The Company has signed a Licence Agreement for setting up a luxury full service apartment adjoining the proposed leisure time club at Chennai.
- 54 89 740 bonus shares issued in prop. 1:2.
2000 - The Company has introduced a Voluntary Retirement Scheme (VRS) to rationalise employee deployment and made payments aggregating to Rs.8.65 crores.
2001 - Mr. P Keswani has been appointed as a director of Oriental Hotels Ltd.
2002
-Members approve for the scheme of amalgamation of Covelong Beach Hotel (India) Ltd and Coromandel Hotels Ltd with the company.
-Mr Dodla Subbarama Reddy acquires 8050 equity shares of the company.
-Board approves the amalgamation of Orient Holding and Fishcove leasing and Investments Ltd.
-Appoints Mr Raymong Bickson as the Director of the company in the casual vacancy of Mr S Ramakrishnan.
2003
-Members approve scheme of amalgamation
-Co-opts Mr D P Hariani as Additional Director
-Mr. Raymond Bickson appointed as Director of the company in the casual vacancy caused by the resignation of Mr. S Ramakrishnan