Country Club(India), previously known as Amrutha Inns was incorporated as a private limited company on 17th May'91 and converted into a public limited company on 29th Aug.'92. It was promoted by Y. Rajeev Reddy and Y. Manjula Reddy. It undertook to set up a three star hotel with 113 room and other facilities such as health club, swimmiing pool, business centre etc. The hotel is being constructed on a European Medieval architectural style. The hotel is to be located on a piece of land admeasuring 2,700 sq. mtrs. at Saifabad. The total cost of the project estimated at Rs.835.20 lakhs was to be met by equity issue of Rs.585.20 lakhs, term loan of Rs.140 lakhs and deferred payment guarantee of Rs.110 lakhs. As a part of the marketing strategy, the Company proposes to make available staying facilities at the country club to the guest stay up at the hotel which otherwise is available only to the members of the club. It also proposes to operate a free luxury coach between the club and the hotel. Company had completed one more banquet hall in Amrutha Castle and a larger banquet hall will be commenced during 1999. Company is very much hopeful after completion this sale proceeds will improve with the utilisation of the addtional facilities.