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| Exchange Disseminated Time 29/09/2015 19:57:41 | TGB Banquets and Hotels Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 29, 2015, has :
1. The Board has considered, finalized and accepted the proposal of Orange Megastructure LLP for purchase of property and assets of the unit situated at "The Grand Bhagwati", F.P. No. 112, Vesu - Magdalla Circle, Dumas Road, Surat - 395007, which will help the Company to make it total debt free and the hotel will continue to be operated by the Company on Franchisee basis.
2. The board has further decided not to enter into heavy assets business and to move towards asset light models.
3. The Company is going to take aggressive expansion plan in QSR models, frozen gravies and ready to eat snacks items and focus more on banquet catering and management contracts in hotel business. |
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