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 Sq.mtr. 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 withBest 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 atie-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.

MAIN OBJECTS OF THE COMPANY:

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.dSUBSIDIARIES

The company has no subsidiaries.