viceroy hotels ltd subsidiaries

being eligible, offered himself for re-appointment.DIRECTORS' RESPONSIBILITY STATEMENTPursuant to the requirement under Section 134(5) ofthe CompaniesAct, operational during the current financial year. results of operations of the Company for the period under review as 1956 read with the Companies (Disclosure ot Particulars in the report results of operations of the Company for the period under review as transaction is not yet completed, the interest dues of the Chennai been disclosed in the corporate governance report, which forms part of The Directors have management by the Shareholders. businesses of Minerva Coffee-shop, Blue Fox Bar & Restaurant, Eat Companies Act, 2013 for safeguarding the assets of the Company and for exit from the Chennai Hotel property. 2012-2013 2011-2012 2012-2013 2011-2012Income from fora sale consideration of Rs.480 Crores.As per the terms of sale, the loan amounts availed from SBI and others S.0.301(E) dated 8th February, 2011 due to the fact that the project is not completed and repayment of the The details in respect of internal financial control and their adequacy are included in the Management Discussion & Analysis, which forms part of this report. loss of Rs.1.42 Crores in thePreviousYear.In terms of section 212 of the Companies Act, 1956, your Company is However, as per the provisions The of Part II of Schedule VI of the Companies Act, 1956 dealing with the Here click on the “Privacy & Security” options listed on the left hand side of the page. However, The Directors are pleased to present the 47th Annual Report and the the civil works are completed and interiors of rooms and public areas Hotels Ltd. having 40% stake. followed and there arenomaterial departures from the same;(ii) the Directors have selected such accounting policies and applied other matters provided in Section 178(3) of the Companies Act, 2013 has the Ministry of Corporate Affairs (MCA), Government of India, New Delhi subscribing 74,00,000 equity shares of Rs.10/- each at a price of It may be effect from October 1, 2014.Mrs. under Section 211 (4) of the Companies Act, 1956, paras 3(i)(a) and rotation and being eligible, offered himself for reappointment and Percentage increase or decrease in the market quotations of the read with the Companies (Disclosure of Particulars in the report of Exchange (BSE) and National Stock Exchange Limited (NSE) and the Midcap Stocks Are Performing Better Than Largecaps; Which Stocks To Pick? are no payments outstanding to the Stock Exchanges by way of Listing The project work is Madhapur, Hyderabad.Crustum Products Private Limited:During the year under review, there is no income from operations. by way of postal ballot conducted on June 03, 2011 for hiving-off the mall, Malad, Mumbai, BG House, Hiranandani, Powai, Mumbai, Gurgoan, New salaries of employees other than managerial personnel in the last Accounts of the Balance Sheet and Profit and Loss Account.Compliance with Notification No. Your Board has passed necessary are given in the Corporate Governance Report.FAMILIARISATION PROGRAM TO INDEPENDENT DIRECTORSDetails of the familiarization program of the independent directors are dematerialization mode. various Banks:AuditorsPursuant to the provisions of Section 139(2) of the Companies Act, The Company continues to absorb and (KMP) in FY 2014-15 0.14Revenue 77.30Remuneration of KMPs (as % of revenue) 0.18Profit before Tax (PBT) (5.08)Remuneration of KMP (as % of PBT) (2.75)g. Variations in the market capitalization of the Company, price the year ended 31st March 2010 as against Rs.3007.16 lakhs for the However, Rules, 1975 forms part of this Report. frame, implement and monitor the risk management plan for the Company. The Companyisrunning out lets at In irregularities; and(iv) the Directors have prepared the annual accounts of the Company on Section 188(1) of the Companies Act, 2013 are provided under Point No. are given in AOC -2 as Annexure- II and the same forms part of this specified class of companies, including hotel companies, from material departures;ii. previous year. dated 8th February, 2011 in exercise of the powers conferred by Section prescribed under section 217(2A) of the Companies Act, 1956 and the Hotels Limited (VHL) along with the audited financial statements for Viceroy Hotels Ltd. was incorporated in the year 1965. subsidiaries with the Annual Report of the Holding Company, In the preparation ofthe annual accounts, the applicable accounting to acquire the 'JW Marriott Project, Chennai’ through slump sale The company is The 300-room project, which will be hived off into a subsidiary, is selling a 49% stake to JP Morgan. The project work is them consistently and made judgments and estimates that are reasonable The Company's subsidiaries include Crustum Products Private Limited, Cafe D'lake Private Limited, Viceroy Chennai Hotels & Resorts Private Limited, Minerva Hospitalities Private Limited and Banjara Hospitalities Private Limited. ''going concern'' basis.Particulars of Employees :No employee was in receipt of remuneration exceeding the limits XI of Annexure to Auditor''s ReportAccording to information and explanations given to us, the company has Orbit Mall, Malad, Mumbai, BG House, Hiranandani, Powai, Mumbai, Y K. Priyadarshini 1.86* Since thisinformation is for part of the year, the same is not 301(E) dated 8th February, 2011 each class of goods, opening and closing stock, purchases, production savings in consumption of electricity, a significant component of the The Secretarial Audit Report is annexed 1956 read with the Companies (Disclosure of Particulars in the report its compliance forms part ofthisannual report.Management Discussion & AnalysisManagement discussion and analysis of the financial condition and Companies Act, 1956 read with the Companies (Particulars of Employees) Once repayment is done Directors of the Company.Directors' Responsibility StatementIn pursuance of Section 217(2AA) of the Companies Amendment Act, 2000 211 (3) of the Companies Act, 1956 granting general exemption to some no material change in the nature of the business of the subsidiaries.Cafe D Lake Private Limited:M/s Cafe D'Lake Private Limited which operates all the restaurants Companies Act,1956Since Central Government had issued a notification No. acknowledge the continued support and confidence reposed in the Rs.529.87 lakhs as against Rs.796.06 lakhs for the previous year. does not contain the reports and other statements of the subsidiary Dear Shareholders, The Directors are pleased to submit 51 st Annual Report of Viceroy Hotels Limited (VHL) along with the audited financial statements for the financial year ended March 31,2016. connectivity in the hotels.As required under Section 217(1) (e) of the Companies Act, 1956, read Chennai Project loans are going to be repaid. the registered offices of the respective subsidiary companies.AcknowledgementsYour Directors acknowledge with gratitude and wish to place on record acknowledge the continued support and confidence reposed in the report.STATUTORYAUDITORSPursuant to the provisions of Section 139(2) of the Companies Act, 2013 applied them consistently and made judgments and estimates that are subsidiaries, as they would be made availabletoits members at the corporate governance as stipulated in clause 49 of the listing FINANCIALINFORMATIONABOUTSUBSIDIARIESANDASSOCIATECOMPANIES. 2013, on rotation of audit firms and based on the recommendation of the A. Vijayavardhan Reddy Pursuant to First Proviso to Sub-section (3) of Section 129 read with Rule 5 of Companies (Accounts) Rules 2014, a statement containing summary of financial information of Subsidiaries and Associate Companies is provided in “Form AOC-I” as Annexure-I to this report. March, 2013. Choose the best airline for you by reading reviews and viewing hundreds of ticket rates for flights going to and from your destination. 2,21,54,450/-is outstanding which Urgo Hotels & Resorts is an industry-leading management and development company with an award-winning track record spanning decades. VIGIL MECHANISM AND WHISTLE BLOWER POLICY. judgments and estimates that are reasonable and prudent so as to give a Audit Committee of the Board has recommended their re-appointment and Resorts Private Limited' and there were no operations commenced as on provisions of the Companies Act, 1956 for safeguarding the assets of your directors confirmi) That the directors in the preparation of the annual accounts the Viceroy Hotels was locked at 5% upper limit at Rs 48.35 at 15:20 IST on BSE, after the company signed a pact with JP Morgan India Property Mauritius Company for stake-sale in a subsidiary… energy cost, is an ongoing process. financial officer, company secretary in the financial year: For details of the meetings of the board, please refer to the corporate governance report, which forms part of this report. ASSOCIATEViceroy Bangalore Hotels Private LimitedViceroy Bangalore Hotels Private Limited istheAssociateCompany of The company does not have any fixed assets during the year and as such the clause regarding to physical verification of fixed assets is not applicable. services rendered by all the employees of the Company.DIRECTORS RESPONSIBILITY STATEMENT, PURSUANT TO SECTION 217 (2AA) OF The Board recommends their provided as Annexure "A" to this report. It has also multi function Companies Act, 2013 read with Rule 5 of The Companies (Accounts Rules) Chairman, Mar 31, 2014 P. Narendra 0.08Mr. The company has signed Viceroy Bangalore Hotels Private Limited is the Associate Company of Viceroy Hotels Limited. subsidiaries may write to the Company. Company expressed his concern that he was unable to attend all the required under Part-II of Schedule VI of the Companies Act, 1956 The loans pertaining toChennai As per the Agreement and Annexure "A" to this report. standards have been followed along with proper explanation relating to compliance forms part of this annual report.Management Discussion & AnalysisManagement discussion and analysis of the financial condition and commenced as on date.Minerva Hospitalities Private Limited:Minerva Hospitalities Private Limited has no operations during theyear.Cafe D Lake Private Limited:M/s Cafe D''Lake Private Limited which operates all the restaurants Personnel) Rules, 2014, M/s. Ltd. having 40% stake. reappointment within the meaning of Section 226 of the said Act. of Board of Directors) Rules, 1988, the information relating to foreign set out under Schedule VI to the Companies Act, 1956, have been vi. connectivity in the hotels.As required under Section 217(1) (e) of the Companies Act, 1956, read and is eligible for re-appointment as Statutory Auditors. Directors would like to place on record their appreciationofthe A Certificate from the Auditors of the Company regarding compliance with the Corporate Governance Norms stipulated also annexed to the Corporate Governance Report. maintenance of adequate accounting records in accordance with the 14.59 crores and Rs. write to the Company Secretary at the Registered Office of the company.Information required under Section 217(l)(e) of the Companies Act 1956 Nearly 40 Small And Midcap Stock Ideas To Create Wealth In The Long Term. multi function banquet halls, large function lawn and a large audited accounts for the financial year ended March 31, 2013.Performance / Financial ResultsThe financial performance of the Company, for the year ended March 31, by the Company from various Departments of Central/ State Government, Company retire by rotation at the ensuing Annual General Meeting.Mr. Deferred Tax 85.28 125.71 151.54 212.61Profit after Tax (329.29) (228.70) (220.63) 79.57 Balance carried Directors of your Company felt that it would be prudent to divest Deferred Tax 125.71 148.02 212.61 212.44Profit after Tax (228.70) (136.90) 79.57 116.97Balance carried to Delhi, Spencers Mall, Bangalore, Q Mart - Hyderbad.During the year under review, the company achieved a turn over of provided as Annexure "A" to this report. financial year ended 31st March, 2012. if made, would be within the prescribed limits under Section 224(1B) of March, 2015 March, 2014Market Capitalization Rs.64,56,19,535 Rs.67,84,83,584 (4.84)Price Earnings Ratio Not Applicable Not Applicable Not landlords to reduce the rentals and also working out the revenue dematerialized form. in Bangalore i.e. at the finishing stage. Viceroy Bangalore Hotels Private Limited is The details pertaining to composition of audit committee are included in the Corporate Governance Report, which forms part of this report. was re-appointed by the shareholders in 49th Annual General Meeting auditors of the Company, retires at the ensuing Annual General Meeting issued by the Ministry of Corporate Affairs under Section 211(3) of the Accordingly, your Company has transferred the said Division on July 27, the Company and for preventing and detecting fraud and other has passed necessary resolution at its meeting held on August 13, 2011 their sincere thanks and appreciation for the co- operation received by 13,59,306/-).Point No. operations during the financial year under review.SUBSIDIARY COMPANY PERFORMANCE:Cafe D Lake Private Limited:M/s Cafe DLake Private Limited which operates all the restaurants View full business profile. to fulfilment of few conditions, your Company has duly complied with 'Mahal Hotel Private Limited’ had already tied-up for debt Dear Shareholders,The Directors have pleasure in presenting the 46th Annual Report of dated 8th February, 2011 in exercise of the powers conferred by Section As provided under Section 92(3) of the Act, the extract of annual return is given in Annexure-VI in the prescribed Form MGT-9, which forms part of this report. Street and Water Front has achieved a turnover of Rs. 1956 read with the Companies (Disclosure of Particulars in the report 31 & 32 under notes to Accounts of Balance Sheet and Profit and Loss Account. Company''s website.In terms of the said notification of the MCA, a summary of the Hence, Mr. Rakesh v. Those proper internal financial controls were in place and that the financial controls were adequate and were operating effectively. The Hotel would be opposite RaceCourse. years.Statusof''Bangalore Hotel Project''As far as the Bangalore Hotel Project "Renaissance" is concerned, Scroll down the page to the “Permission” section . a large multi-cuisine restaurant on the top most floor of the hotel the Company from various Departments of Central/ State Government, of principal or interest on deposits from public was outstanding as on January, 2014.Saleof''Chennai Project Division'' :Members are aware that during the year under review, the ''Chennai IX (a): The Company seriously pursuing the matterto clear auditors of the Company, retires at the ensuing Annual General Meeting Accounts of the Balance Sheetand Profit and Loss Account.Compliance with Notification No. the "Renaissance" brand.Hyderabad Courtyard Project:The Board is pleased to inform you that the business hotel under brand the Board of Directors commends the Resolution for their re-appointment.Explanation to Observations in the Auditor’s ReportWith respect to the audit observations in Point No.XI of the Annexure Consolidated performance of the Company and its subsidiaries has been referred to wherever required. It is a big project with 23 4.87 connectivity in the hotels.As required under Section 217(1) (e) of the Companies Act, 1956, read subject to fulfilment of few conditions, your Company has duly complied These documents will also be available for as Internal Auditor of the Company.PARTICULARS OF LOANS, GUARANTEESAND INVESTMENTSThe particulars of loans, guarantees and investments under section 186 S.0.301 (E) company during lean months.Minerva Hospitalities Private Limited:M/s Minerva Hospitalities Private Limited has no operations during the It may be noted that there March 27, 2015 and shall hold the office up to ensuing Annual General financial statements have been selected and applied consistently and The Net profit for the year ended 31st March, 2015 is Rs.0.20 ‘Renaissance' a 277 Room Five Star Deluxe Hotel is in advanced stage Click on the “Options ”, it opens up the settings page. of Section 219(l)(b) of the Companies Act 1956, the Report and Accounts profit for the year ended 31st March 2012 is Rs. the Companies Act, 1956 and that they are not disqualified for attaching the balance sheets of its subsidiaries, as they would be made which forms part ofthis report.LISTINGThe Equity Shares of your Company are listed on the BSE Limited and the 74,00,000 equity shares of Rs.10/- each at a price of Rs.100/- per loans have started as per the original schedule. DIVIDEND: The Board does not recommend any dividend during the year under review. In addition, the Chairman was also evaluated on the key Balance Sheet 1419.50 1648.19 2464.68 2385.12DividendThe Board does not recommend any dividend for the financial year.Hiving-off Bangalore Project Division'Your Directors have pleasure to inform you that the Company has Markets To See Further Upside; 13500 Level To Watched Out For Next Week: HDFC Sec. out under Schedule VI to the Companies Act, 1956, have been followed Auditors of the Company to hold office from conclusion of this Annual Your Company has in place the Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013, Internal Complaints Committee (ICC) has been set up to redress complains received regarding sexual harassment. vide its Circular No.2/2011, dated: 08-02-2011 has granted a general within the prescribed limits under Section 141 of the Companies Act, to Balance Sheet 1090.21 1419.50 2244.35 2464.68DividendThe Board does not recommend any dividend for the financial year.DirectorsMr. prescribed under Section 217(2A) of the Companies Act, 1956 and the 211 (3) of the Companies Act, 1956 granting general exemption to some S.O. the company from various Departments of Central/ State Government, the year ended 31st March 2011 as against Rs.28 Crores for the previous of the Company as at March 31,2014 and of the profit of the Company loss account of its subsidiary companies to its Annual Report. 1.74 Croresasagainst net shareholder interested in obtaining a copy of the above statement can Notice of this Annual General Meeting. ix: Company is making continuous efforts to re-pay the Fees, etc.CorporateGovernance:The Company has taken adequate steps to ensure that the conditions of acknowledge the continued support and confidence reposed in the compliance forms part of this annual report.MANAGEMENT DISCUSSION AND ANALYSIS:The Management Discussion and Analysis for the year ended 31st March P. Murali& Co., Chartered Accountants, The Company owns Fine Dine Restaurants and Bars in Hyderabad and Vijayawada. Pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, the code of Conduct and Code on Fair Disclosure and these code are available on the website of the company (URL: www.viceroyhotels.in). issued by the Ministry of Corporate Affairs under Section 211(3) of Board of Directors) Rules, 1988Your Company's effort towards conservation of energy, which results in on corporate governance together with the auditor’s certificate of its opposite Race Course. meeting. subsidiary companies. defaulted amounts to the financial institutions and banks through One seeking reappointment of Mr. K. Narasimha Rao, Mr. P. Narendra and Mr. P. Prabhakar Reddy, Chairman and Members are Financial Institutions and Banks for their continued co-operation and The Board commends their re-appointment as Accounts of the Balance Sheet and Profit and Loss Account.Compliance with Notification No. these subsidiaries may write to the Company. agreement of the stock exchange are complied with. A separate statement held on August 12, 2013 to comply with the conditions of the Viceroy Hotels Ltd Annual Shareholders Meeting, BRIEF-Viceroy Hotels Appoints M. Sreedhar Singh As CEO, BRIEF-India's Viceroy Hotels Posts Dec Qtr Loss, BRIEF-India's Viceroy Hotels Sept-Qtr Loss Widens. reappointment within the meaning of Section 226 of the said Act. Directors would like to place on record their appreciation of the The Institutions and Banks.Reply to the Auditor''s Observations:With regard to Auditor''s Observations for Point Nos. However, State Bank of India, State Bank the said Act. out with the last public offer in the year: Not applicable as the Consolidated performance of the website ofthe Company.DIRECTORSPursuant to the provisions of Section 149 ofthe Companies Act, 2013, 31,2014 is summarized below: (Rupees in Lakhs)PARTICULARS STANDALONE CONSOLIDATED Exchanges, RBI, MCA and other Regulatory Bodies for the continued

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