Dhanada Corporation Ltd Company Summary

Dhanada Corporation Ltd Summary

Dhanada Corporation Limited was incorporated as a Private Limited Company on 14th July, 1986 in Maharashtra under the name Vedant Hotels Private Limited and was subsequently converted into a Public Limited Company on 12th February 1990. Later on, the name of the Company was changed to Dhanada Corporation Limited in July, 2011.The Company is engaged in the business of Hospitality. Currently, Dhanada Portfolio Management Ltd. holds majority stake in the company. The Company established a Five Star Hotel (The Vedant) at Aurangabad in 1995. It came out with a public issue of Rs. 4 Crores in 1995. During the year 2009, Malkan Engineering Pvt. Ltd. became subsidiary of the Company. Apart from the above, two companies viz. Maharashtra Hospitality Ltd. and Vedant Lapidary Pvt. Ltd. were merged with the Company through a scheme of Arrangement & Amalgamation, which became operative from 1st April 2008. The Company issued and allotted 53,66,000 Equity shares to the shareholders of the transferor companies against exchange and 1,29,68,300 Equity shares to the parent Company against conversion of loan. Further 46,97,133 Equity shares were issued against acquisition of land on 30th April 2010. The Company further refurbished the 3rd floor with 23 rooms and made them operational during November 2009.Dhanada Securities Trading Private Limited was made subsidiary of the Company effective on 25th May 2011. Since November 2011, all 100 rooms in the Hotel were made operational.