Dear Shareholders of GULF GOANS HOTELS CO. LTD.,
This is to highlight the fact that our Company's registered office is still functioning from Panjim while our hotel operations and the related activities are going on in Calangute.
Being in hospitality business for better governance, administration, for exercising effective controls, to further enhance the standard of our services and for monitoring all the aspects of the hotel operations such as pilferage, overcharging, wastages etc. you all had proposed in 2011 AGM to shift our registered office from Panjim to Calangute in hotel premises.
This is to highlight the fact that our Company's registered office is still functioning from Panjim while our hotel operations and the related activities are going on in Calangute.
Being in hospitality business for better governance, administration, for exercising effective controls, to further enhance the standard of our services and for monitoring all the aspects of the hotel operations such as pilferage, overcharging, wastages etc. you all had proposed in 2011 AGM to shift our registered office from Panjim to Calangute in hotel premises.
In
that AGM our chairman had not only agreed to initiate the necessary
legal process but even assured to shift the registered Office within 6
months further adding that he presently functions 3 times in a week in
Calangute and 3 times in Panjim. Consequently Panjim office will
either be given on lease or sold upright exercising better option. Regrettably what was decided and agreed in that AGM till today stands
belied.
Based on survey conducted through authentic channels we can expect to get monthly lease of about Rs.80,000/- if our Panjim Office is given on lease which means additional yearly income generation of about Rs.9,60,000/- besides saving/reducing additional expenses such as pilferage, unwarranted consumptions, wastage, manipulations etc estimated to be around Rs.3 lacs per year.
Based on survey conducted through authentic channels we can expect to get monthly lease of about Rs.80,000/- if our Panjim Office is given on lease which means additional yearly income generation of about Rs.9,60,000/- besides saving/reducing additional expenses such as pilferage, unwarranted consumptions, wastage, manipulations etc estimated to be around Rs.3 lacs per year.
In simple calculation
keeping our Panjim Office since last 3 years, in contravention to our
resolution, we lost about Rs.37,80,000/- for 3 years. Are we continuing
to keep Panjim office for no valid reason and drain our income in the
future?
When we raised this issue highlighting additional benefits in recent Lok Adahalat with ROC our management has given untenable and feeble replies stating shareholders convenience, to be accessible to Government offices and lack of space in hotel premises. We repudiated that hardly any cases are there when shareholders have to come to the office in person and such cases can be attended by courier/post that cases with Government Dept/banks can be handled by peon or junior level clerk instead of whole staff and management to keep in Panjim further that there is enough space in hotel premises to accommodate the office besides one room of the hotel can be reserved for the Office since we have no 100 percent occupancy throughout the year.
In the light of foregoing it is high time for all the shareholders to review this matter with pragmatism or shall we continue to lose our huge revenues by keeping our Registered Office in Panjim for the benefit, glory and orgy of few directors or review our plans for better results and efficiencies on all the fronts?
Please request the Board to shift the registered Office from Panjim to Calangute in hotel premises taking cue of all other hotels in Goa, stating to complete required legal process and to save the company of about Rs.37,80,000/- yearly besides unaccountable petrol expenses involved unnecessarily.
Yours Truly.
CONCERNED SHARE HOLDERS OF:
When we raised this issue highlighting additional benefits in recent Lok Adahalat with ROC our management has given untenable and feeble replies stating shareholders convenience, to be accessible to Government offices and lack of space in hotel premises. We repudiated that hardly any cases are there when shareholders have to come to the office in person and such cases can be attended by courier/post that cases with Government Dept/banks can be handled by peon or junior level clerk instead of whole staff and management to keep in Panjim further that there is enough space in hotel premises to accommodate the office besides one room of the hotel can be reserved for the Office since we have no 100 percent occupancy throughout the year.
In the light of foregoing it is high time for all the shareholders to review this matter with pragmatism or shall we continue to lose our huge revenues by keeping our Registered Office in Panjim for the benefit, glory and orgy of few directors or review our plans for better results and efficiencies on all the fronts?
Please request the Board to shift the registered Office from Panjim to Calangute in hotel premises taking cue of all other hotels in Goa, stating to complete required legal process and to save the company of about Rs.37,80,000/- yearly besides unaccountable petrol expenses involved unnecessarily.
Yours Truly.
CONCERNED SHARE HOLDERS OF:
GULF GOANS HOTELS CO.
