Incorporated in 1967, Foods and Inns (FIL) is engaged in the business of processing food products and fruits. Its manufacturing facilities are located in Bombay and Nashik. Sam Manekshaw M C is the Chairman of the company. _x000D_ _x000D_ FIL's export-oriented processed food and vegetable unit located in Nashik went on stream in Nov.'94. In 1994-95, FIL commenced commercial production of its project for frozen mango pulp and vegetables. Dravya Finance and Asim Exports International are 100% subsidiaries of FIL. It is the first company in India to export egg powder and has obtained repeat orders for the same. It has developed a new product for a soft-drink company. It has also exported lychees, a seasonal fruit._x000D_ _x000D_ The company exports its products in industrial and consumer packs to the UK, Kuwait, Saudi Arabia, Yemen, Japan, Germany and West Asia. During the year, the company sold its poultry division to Bhairavnath Poultry Farm Pvt Ltd, to concentrate on its core business of food processing._x000D_ _x000D_ In 1998-99, it made a preferential allotment of 1,75,820 equity shares of Rs. 10/- each at a premium of Rs. 50/- per share to a non-residential director of the company._x000D_ _x000D_