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History of Delight Handicrafts Palace Ltd.

The Comp. was originally incorporated as a private limited Comp. on 15th October, 1993 & subsequently converted into a Public Limited Company, vide fresh certificate of incorporation dated 18th February, 1994 under the Companies Act, 1956. The Comp. was incorporated with the main object of taking over the then existing business of M/sDelight Handicrafts Palace [DHPs], a proprietorship ooncem of Mr. Ramji Mishra.

Soon after its formation, the Comp. on December 6, 1993 took over the entire business of Delight Handicrafts Palace with all its undertakings, rights & liabilities as reflected in the Balance Sheet as on that day. The Comp. had revalued its property situated at Bhamhana [Anantpurs], Distt. Mirzapur on 24th Mamh 1994, from Rs. 41,499.25 [book value on the date of takeovers] to Rs. 40,41,499.25. The revaluation had been carried out on the basis of valuation report of M/s Companion Design House, Architects & Engineers. The firm is not an approved valuer. As per the vlauation report the total vlaue of property which comes out to Rs. 40,41,499.25 has been valued on the basis of present prevailing market rates & departmental schedules.