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Company Information

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COX & KINGS LTD.

10 February 2022 | 12:00

Industry >> Travel Agen. / Tourism Deve. / Amusement Park

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ISIN No INE008I01026 BSE Code / NSE Code 533144 / COX&KINGS Book Value (Rs.) -476.88 Face Value 5.00
Bookclosure 27/09/2018 52Week High 3 EPS 0.00 P/E 0.00
Market Cap. 30.90 Cr. 52Week Low 1 P/BV / Div Yield (%) 0.00 / 0.00 Market Lot 1.00
Security Type Other

History of Company

The company history sections lists out major chronological events that happened to the company.
Our Company was incorporated under the name of the "Eastern Carrying Company Limited" on June 7, 1939 under the Indian Companies Act, VII of 1913. The name of our company was subsequently changed to "Cox and Kings (India) Limited" and the consequent fresh Certificate of Incorporation was granted on February 23, 1950. Subsequently, after the amendment of Section 43A of the Companies Act 1956, the word "Private" was added to the name of our Company on October 12, 2001. Pursuant to a special resolution of our shareholders at an Extraordinary General Meeting held on January 29, 2007, our Company became a public limited company and the word "Private" was deleted from its name. The Certificate of Incorporation to reflect the new name was issued on March 28, 2007 by the RoC.

The evolution of our name as a brand can be traced in history dating back to the year 1758, i.e. an history of over 250 years when Lord Ligonier, Colonel of the 1st Foot Guards, appointed Richard Cox, as his regimental agent for handling the affairs, pay and sundry obligations of the officers stationed overseas. Then since the year 1765 it operated as a partnership firm. By the year 1815, the firm became agents and banker to the entire Household Brigade, most of the cavalry and infantry regiments, the Royal Artillery, and the Royal Wagon Train, which later became the Royal Army Service Corps. In the year 1909, Cox & Co. got incorporated as an unlimited company under the Companies (Consolidation) Act, 1908 in London. In October 1922, Cox & Co. absorbed the business of Henry S. King & Co., a small bank with Indian interests, with which the name of Cox & Kings came into existence.

In February1923 their banking business was taken over by Lloyds Bank Limited. In the year 1960 Lloyds Bank Limited sold this acquired business to National and Grindlays Bank Ltd. In the year 1980 Grindlays Bank Limited divested its nonbanking activities because of Governmental regulations. This interest in the travel business was bought by Mr. A.B.M. Good and Mr. John Norman Romney Barber by acquiring Cox & Kings (Holdings) Ltd. (now Cox & Kings Ltd.) along with its subsidiary Cox & Kings Ltd. (now Cox & Kings Travel Ltd.). Cox & Kings under its present ownership continued to operate as Specialized Tour Operator. It also branched out into special interest holidays for artists, botanists and natural historians.

In the year 1980, the Reserve Bank of India vide its letter dated May 14, 1980 permitted Cox & Kings (Agents) Limited to transfer its Indian business to Cox and Kings (India) Limited with effect from October 1, 1978. Cox & Kings (Agents) Limited, however, continued with its business from its head office in London. In consideration of this purchase of business, Cox and Kings (India) Limited issued our shares to Cox & Kings (Agents) Limited. As a condition of Indianisation imposed by the Reserve Bank of India, Cox and Kings (India) Limited issued and allotted 60% of the shares to resident Indians and Staff Gratuity Trust Fund.

Ajay Ajit Peter Kerkar and Urrshila Kerkar bought Equity Shares of Cox and Kings (India) Limited from the existing shareholders of our Company for the first time on May 09, 1981 and thereafter consolidated their shareholding by way of rights issues in March 1990, August 1996, November 1998 and June 2005 through the allotment of additional shares/subscription to renunciation in the rights issues including purchases from the existing shareholder during the said period. Liz Investments Private Limited acquired the Equity Shares from the existing shareholders for the first time on September 21, 1988 and similarly consolidated its shareholding in the rights issue by the Company March 1990, August 1996, November, 1998 and June 2005. Upon conclusion of these rights issues in June 2005 Ajay Ajit Peter Kerkar, Urrshila Kerkar, Liz Investments Private Limited and Mr. A.B.M. Good collectively held 3,842,450 Equity Shares representing 70.63% of the outstanding capital of the Company.

Major Events

Year Key Events, Milestones and Achievements

1980 Acquisition of Indian business of Cox & Kings (Agents) Ltd.

1996 Foray into Foreign Exchange business

1999 Launch of brands, "Duniya Dekho" and "Bharat Deko"

2001 Launch of brand, "FlexiHol"

2002 Takeover of Foreign Exchange business of Tulip Star Hotels Limited

2006 Acquisition of Clearmine Limited, a U.K. based company, with its wholly owned subsidiary ETN Services Limited

Establishment of overseas branch offices at Russia and New York

Incorporation of our overseas subsidiary in Singapore

Enhancement of Full Fledged Money Changer License to Authorized Dealer Category-II

2007 Acquisition of Cox & Kings Ltd., a U.K. based company, with its wholly owned subsidiary Cox & Kings Travel Ltd. and Cox & Kings (Japan) Ltd., based in Japan pursuant to the FIPB approval dated August 6, 2007

              Incorporation of our overseas subsidiary in Dubai
2008 Acquisition of Tempo Holidays Pty Ltd., based in Australia with its wholly owned subsidiary Tempo Holidays NZ Ltd. based in New Zealand marking our direct presence in these geographies

Foray in Visa Processing business through acquisition of Quoprro Global Services Pvt. Ltd.

Approval from GoI, MEA, the High Commission of India at Singapore for their visa processing services under a newly formed subsidiary Quoprro Global Services Pte Ltd.

              Formed Joint Venture 'Royale Indian Rail Tours Limited' with IRCTC for luxury train-based 
               tourism in India 
2009 Acquisition of East India Travel Company Inc., a U.S. based company for direct and better presence therein Incorporation of our subsidiary in U.K. in the name of Quoprro Global Limited

Incorporation of a step- down overseas subsidiary in Hong Kong 2010 - The Registrar of Companies has approved name change of the Company from "Cox and Kings (India) Ltd" to "Cox & Kings Ltd".

2011

- Cox & Kings acquires Holidaybreak PLC for GBP 323.43 million

- Sub-division of equity shares from face value of Rs. 10/- per share to face value of Rs. 5/- per share.
-Cox & Kings has splits its face value from Rs 10/- to 5/-
                                                           
2012
- CVCI private equity investment in Cox & Kings Ltd's UK Subsidiary.

2014

-Cox & Kings L - PGL, owned by Cox & Kings, expands its footprint as it opens its first

-Cox & Kings L - PGL, owned by Cox & Kings Ltd. adds second centre to its Australian operations- Camp Rumbug

-Cox & Kings L - PGL, owned by Cox & Kings Ltd. adds second centre to its Australian operations- Camp Rumbug

2015 - Cox and Kings Grab Your Dream' receives PATA Gold award - Cox & Kings owned MEININGER Hotels to open in Budapest - Cox & Kings acquires LateRooms

2016

- "Cox & Kings Bags Three Awards at the Prestigious World Travel Awards in Vietnam". - "Cox & Kings Ltd Introduces money transfer solutions in partnership with UAE Exchange India". -"Cox & Kings chosen `Best Tour Operator' at Travel + Leisure - India's Best Awards 2016".