Rainbow Foundations Share price

Rainbow Holiday Resorts International Limited (RHRIL) wasincorporated with Registrar of Companies Tamil Nadu on7.06.1994 and the Certificate for Commencement of Businesswas obtained on 26.07.1994.PRESENT BUSINESS OF THE COMPANYAfter incorporation in June 1994 the company has been egaged in identifying and buying of highly potential realestates for purpose of development and selling of Commercialand Residential apartments. It has so far identified sixsuch plots in and around Madras.The Company has also acquired land in the tourist town of Kodaikanal which is located in the Palani Hills in thestate of Tamil Nadu. The company proposes to set up aResort Complex on Vacation Time Sharing (VTS) basis. TheCompany plans to construct 2 cottages along with aRestaurant Coffee shop and other facilities in the firstphase. On completion of the first phase the second phasewill be taken up which would involve construction ofadditional 160 cottages. Adjacent to the proposed complexthe Company plans to develop land measuring 28 acres forclassifying into plots which would then be sold todifferent set of customers.The Company has commenced the Residential/Commercialconstruction work at George Town Project III andMadipakkam after obtaining necessary approvals. AtKodaikanal the land for layout project has been demarkedand the inner link roads are in the process of being laid.The laying of the approach road to Resort Complex has beencompleted to the extent of 2 Kms.