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Recent Developments
ITC Ltd is planning to merge ITCHL with itself. ITC chairman
YC Deveshwar said, `No decision on the merger has been
taken. But it can happen.` Earlier in the day, Deveshwar
told company shareholders at the annual general meeting,
`hotels are going through a bad period. However, it will be a
valuable business and asset value will not depreciate.`
Future Plans
As part of its growth plans, construction of two more
business hotels, one at Mumbai and one at Kolkata, has
already commenced. When they open, the Grand Towers at
Mumbai and the ITC Hotel Sonar Bangla at Kolkata will add
500 more rooms to the ITC - Welcomgroup chain. The 400-
room ITC Hotel Grand Maratha which opened for guests in
February 2001 is being perceived as the finest property in
Mumbai. The company has planned investments to augment
the total room capacity of the chain by building hotels at
Kolkata, Jaisalmer and other locations.
Latest Quarterly/Halfyearly
Board Of Directors
Director K Jayabharath Reddy
Director Krishan Lal Thapar
Director Krishnamoorthy Vaidyanath
Managing Director Nakul Anand
Director Ramanathan Subramanian
Director Rangarajan Vasudevan
Non-Executive Director Sahibzada Syed Habib-Ur-Rehman
Director Serajul Haq Khan
Executive Director Subrahmoneyan Chandra Sekhar
Chairman and Non-Executive Director Yogesh Chander Deveshwar