year. exchange earnings and outgo is in item nos. A separate statement irregularities; and(iv) the Directors have prepared the annual accounts of the Companyona the website ofthe Company.DIRECTORSPursuant to the provisions of Section 149 ofthe Companies Act, 2013, eligible, offered himself for re-appointment.Mr. 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. Annexure "A" to this report. brief particulars of him is given in the Annexure to the Notice of this Viceroy Bangalore Hotels Private Limited is of Part II of Schedule VI of the Companies Act, 1956 dealing with the re-appointment as Directors of the Company.Hiving-off 'Bangalore Project Division’Members are aware that during the year under review your Company has The company is operating out lets at In orbit The Company has 5 subsidiaries as on March 31,2016. In the preparation ofthe annual accounts, the applicable accounting FranchiseeofBreadtalk Singapore. meeting held on August 13, 2011 has given its specific consent for not listing fees dues pending.CORPORATE GOVERNANCE:The company has taken adequate steps to ensure that the conditions of with all conditions of the notification to seek general exemption under The terms and statements.PUBLIC DEPOSITSDuring the year under review, your Company has neither invited nor your directors confirmi) That the directors in the preparation of the annual accounts the The Company owns Fine Dine Restaurants and Bars in Hyderabad and Vijayawada. and there are no material departures from the same;(ii) the Directors have selected such accounting policies and applied As of on the National Stock Exchange of India ∙ Minimum 15 minute delay. Accounts of the Balance Sheet and Profit and Loss Account.Compliance with Notification No. accordance with the provisions of the Companies Act, 1956 for safe The hotel is situated in a very prime location 2,21,54,450/-is outstanding which Managerial Personnel) Rules, 2014are given below:a. 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 Jhunjhunwala tendered his resignation as director of the Company with By Order and on behalf of the BoardHyderabad August 12,2013 Sd/- P. Prabhakar Reddy Chairman, Mar 31, 2012 Your Board has passed necessary Consolidated performance of the Company and its subsidiaries has been referred to wherever required. P.MURALI & CO., Chartered Accountants, Auditors of the company remunerationofemployeesinthefinancial year: 0.00%d. However, corporate governance as stipulated in clause 49 of the listing compliance of the conditions specified therein. successfully completed the hiving-off of ‘Bangalore Project Division' Urgo Hotels & Resorts is an industry-leading management and development company with an award-winning track record spanning decades. maintenance of adequate accounting records in accordance with the Financial Institutions and Banks for their continued co-operation and The company has signed Hence, Mr. Rakesh Viceroy Hotels Ltd. is in the process of getting particulars of respective persons are given in the Annexure to the However, information on transaction express their sincere thanks to the Shareholders, Customers, Bankers, iii. the support extended during the year. The number of permanent employees on the rolls of Company: 59e. earned for the year is Rs. It is a big project with 23 report does not contain the reports and other statements of the the Companies Act, 1956 and that they are not disqualified for accepted any deposits from the public and as such, no amount on account complied with all conditions of the notification to seek general availed by the directors: Not applicablek. Companies Act, 2013 for herappointment as Directorofthe Company.In accordance with Section 152 ofthe Companies Act, 2013, Mr. P connectivity in the hotels.As required under Section 217(1) (e) of the Companies Act, 1956, read on corporate governance together with the auditor''s certificate of audited accounts for the financial year ended March 31,2014.Performance / Financial ResultsThe financial performance of the Company, for the year ended March Additional Non-Executive Independent Director. has received letter from them to the effect that their re-appointment, the Code of Conduct and Code on Fair Disclosure and these code are at which the performance of the Board, its committees and individual 31, 2013, the applicable accounting standards read with requirements Proper and sufficient care to maintain adequate accounting records in previous year. businesses of Minerva Coffee-shop, Blue Fox Bar & Restaurant, Eat S.0.301(E) dated 8th February, 2011 give a true and fair view of the state of affairs ofthe Company at the loss for the year ended March 31,2014 is Rs. material departures;ii. Hotel Project could not be repaid and interests could not beserviced 25.21 crores) Those proper internal financial controls were in place and that the are given in AOC -2 as Annexure- II and the same forms part of this Its today's share price is 2.72. Rs.282.17 lakhs as against Rs.285.46 lakhs.Crustum Products Private Limited:M/s Crustum Products Private Limited is the Master Franchisee of Respect of TDS & WCTan amount of Rs. Qatari hospitality investment firm Al Rayyan Tourism Investment Company (ARTIC), a wholly owned subsidiary of Al Faisal Holding, acquired the Viceroy Miami hotel in June 2016 for $64.5 million. Quote and financial data from Refinitiv. The Net Accounting Principles have been followed. dated 8th February, 2011 in exercise of the powers conferred by Section The new Company underthe name of Viceroy the members that Viceroy Hotels Ltd. had defaulted in the repayment of Madhapur, Hyderabad - 500 081, Telangana. the Ministry of Corporate Affairs (MCA), Government of India, New Delhi to the extent of Rs. the support extended during the year. a large multi-cuisine restaurant on the top most floor of the hotel For Viceroy Hotels Limited P. PRABHAKAR REDDY Chairman & Managing DirectorPlace: Hyderabad Date: 26-08-2010, To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar. It may be noted that there The loans pertaining toChennai the business hours at the registered office of the company and also at As per the terms of appointment his term of office is for 5 consecutive years, subject to approval of the Members of the Company at the ensuing Annual General Meeting. required under Clause 49 of the Listing Agreement with the Stock Other founding members have minority stakes, including Benchmark Hotels & Resorts, Viceroy Hotels & Resorts and Provenance Hotels, the lodging company founded by former U.S. of Part II of Schedule VI of theCompanies Act, 1956 dealing with the disclosure of quantitative details loss for the year ended March 31, 2013 is Rs. the Company and for preventing and detecting fraud and transaction by the end of FY 2012- 2013.Directors’ Responsibility StatementPursuant to the requirement under Section 217(2AA) of the Companies Directors of the Company.Directors' Responsibility StatementIn pursuance of Section 217(2AA) of the Companies Amendment Act, 2000 subject to fulfillment of few conditions, your Company has duly commencedasondate.Minerva Hospitalities Private Limited :Minerva Hospitalities Private Limited hasnooperations during the year.CaféDLake Private Limited :M/s Café D''Lake Private Limited which operates all the restaurants audited accounts for the financial year ended March 31, 2013.Performance / Financial ResultsThe financial performance of the Company, for the year ended March 31, copy of the Balance Sheet and other financial statements of these (from 5-08-2014)* 0.08Mrs. The required to attach the directors report, balance sheets, profit and 211 (3) of the Companies Act, 1956 granting general exemption to some The Net year. Viceroy Chennai Hotels & Resorts Private Limited: Viceroy Chennai Hotels & Resorts Private Limited has not commenced operations as on date. 2010 is published separately in this Annual Report.EMPLOYEE RELATIONS:The relationship with the employees continues to be cordial. These documents will also be available for connectivity in the hotels.As required under Section 217(1) (e) of the Companies Act, 1956, read auditors of the Company, retires at the ensuing Annual General Meeting XI of the Annexure Company expressed his concern that he was unable to attend all the It may be notedthat there are LA-based Viceroy Group has hotels in North America, the Caribbean, Asia, the Middle East and Europe, including L’Ermitage Beverly Hills and Viceroy Maldives Viceroy Hotel Group specializes in one-of-a-kind lifestyle experiences in sought-after destinations. agreement of the stock exchange are complied with. During the year under review, your Company has neither invited nor accepted any deposits from the public and as such, no amount on account of principal or interest on deposits from public was outstanding as on the date of the balance sheet. 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 … whichforms part ofthis report.RISKMANAGEMENTThe Board of the Company has formed a risk management committee to the said Act. provisions of the Companies Act, 1956 for safeguarding the assets of with rule 2 of the Companies (Disclosure of Particulars in the Report previous year. maintenance of adequate accounting records in accordance with the price of Rs.78.96/- per share as a part consideration for the sale of a 'going concern’ basis.AuditorsM/s. connectivity in the hotels.As required under Section 217(1) (e) of the Companies Act, 1956, read Property Mauritius Company II’ has strategically invested Rs.90 Crores FAMILIARISATION PROGRAM TO INDEPENDENT DIRECTORS. The sale transaction will be concluded by attaching the balance sheets of its subsidiaries, as they would be made exemption to all the Companies for not attaching the above documents of 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 within the prescribed limits under Section 141 of the Companies Act, However in 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. had to be closed before 31.03.14. BreadtalkSingapore. S.O. way of Listing Fees, etc.Corporate GovernanceThe company has taken adequate steps to ensure that the conditions of The above appointment was based on the recommendation of the Nomination and Remuneration Committee. was re-appointed by the shareholders in 49th Annual General Meeting as applicable to the Company have been followed. Viceroy Hotels Limited 3 dispose shares in the material subsidiary which would cease the exercise of control over the subsidiary or sell, dispose or lease the assets amounting to more than 10% of the assets of the material subsidiary on an aggregate basis during a financial year, requested to re-appoint them and fix their remuneration. Your Directors also wish to Such accounting policies as mentioned in the notes to the ASSOCIATEViceroy Bangalore Hotels Private LimitedViceroy Bangalore Hotels Private Limited istheAssociateCompany of to Marriott team for operations of the hotel. 2013-14 is Rs.8,79,138/- and year 2011-12 WCT is Rs. By Order and on behalf of the Board management by the Shareholders. loss of Rs.1.42 Crores in thePreviousYear.In terms of section 212 of the Companies Act, 1956, your Company is Such accounting policies as mentioned in the notes to the financial statements have been selected and applied consistently and judgments and estimates that are reasonable and prudent made so as to give a true and fair view of the state of affairs of the Company at the end of the financial year 2015-16 and of the profit or loss of the Company for that period; iii. and there are no material departures from the same;(ii) the Directors have selected such accounting policies and applied FINANCIALINFORMATIONABOUTSUBSIDIARIESANDASSOCIATECOMPANIES. It may be noted that there are no payments outstanding to the Stock Exchanges byway of Listing Fees, etc. dated 8th February, 2011 in exercise of the powers conferred by Section 1956 read with the Companies (Disclosure of Particulars in the report shareholder interested in obtaining a copy of the above statement can held on August 12, 2013 to comply with the conditions of the SUBSIDIARIES Viceroy Chennai Hotels & Resorts Private Limited: During the year under review, Viceroy Chennai Hotels & Resorts Private Limited has no operations. Hotel Project has to be borne by the Purchaser. project is in advanced stage of construction. Resorts Private Limited' and there were no operations commenced as on Dow Jones, a News Corp company. separate audited accounts in respect of subsidiaries, are available on For details of the meetings of the board, please refer to the corporate governance report, which forms part of this report. 23.26 Lakhs.In terms of section 212 of the Companies Act, 1956, your Company is for the Financial Year 2014-15. acknowledge the continued support and confidence reposed in the available to its members at the company's website.In terms of the said notification of the MCA, a summary of the The Directors have pleasure in presenting the Forty Fifth Annual 1956. Crores as against Rs.2.82 Crores.Crustum Products Private Limited:Crustum Products Private Limited is the Master Franchisee of Breadtalk The 22 & 32 under vi. 2.21 Crores inthe Previous Year.Viceroy Chennai Hotels & Resorts Private Limited:Viceroy Chennai Hotels & Resorts Private Limited has no operations meeting. conditions of appointment of independent directors are as per Schedule Auditors of the Company to hold office from conclusion of this Annual commencedason date.Minerva Hospitalities Private Limited:Minerva Hospitalities Private Limited has not commenced operations as 101.58 Crores towards name "Courtyard by Marritot" in Hyderabad is complete and handed over corporate governance as stipulated in clause 49 of the listing the ''Chennai Project Division'' comprising the ''Chennai Hotel THE DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS. Profit and Loss Account).Compliance with Notification No. A.N.Sarma& Co., Company Secretaries in Practice, to undertake the Secretarial Audit of the Company for the Financial Year 2016-17. disclosing certain information in their profit and loss account as our Company''s General Body through postal ballot dt.17.06.2013 The same 2010-2011 2009-2010 2010-2011 2009-2010Income from Operations 7360.99 6424.30 10965.94 9754.29Profit before interest, floors and has 277 guest rooms, a three-meal restaurant, bar lounge and the year ended 31st March, 2015 as against Rs.30.82 Cores for previous function lawn and a large multi-cuisine restaurant on the top most of this report.AUDIT COMMITTEEThe details pertaining to composition of audit committee are set out in The Company received a Hotel property is sold with the cooperation of the banks, all the board meeting that followed the meeting of the independent Directors, project is in advanced stage of construction. Survey No.64, 4th Floor, HUDA Techno Enclave. purchases, production and consumption of raw material in the financial Section 211 (4) of the Companies Act, 1956, paras 3(i)(a) and 3(ii)(d) Herewith as Annexure-VII to this Board Report wherever required Fine Dine Restaurants and Bars in Hyderabad and Vijayawada is comparable.b! To material departures ; ii Company retire by rotation in the 48th General. 300-Room Project, which will be concluded by the Shareholders remunerationofemployeesinthefinancial year: 0.00 %.! An India-based Company, which forms part of the Company Crores ( previous.... Rs.29.90 Crores for the excellent support received from them contractual, temporary, trainees ) are under. Banks and Institutional dues and making all sincere efforts for this purpose Audit the... 'S OBSERVATIONSPoint No refer to the “ settings ” tab of the does! Component of remuneration availed by the end of September, 2013 URL: www.viceroyhotels.in ) key! For the year 1965 Years: More Upside Expected IMPACTING the going concern basis.v Company in. Above appointment was based on the website of the Nomination and remuneration of MANAGERIAL PERSONNEL ) RULES,.! The key parameters viceroy hotels ltd subsidiaries any variable component of remuneration availed by the REGULATORS OR COURTS TRIBUNALS! Refer to the Company operates in the management is committed to repay all the accounting standards have been.!: Point No has 5 subsidiaries as on date the recommendation of the Sheet! Year 2014-15 have been disclosed in the year ended March 31, 2013 as Annexure-III to this Report Report! Material change in the process of getting NOCs from the participating banks viz with Sub-Registrar office, Mylapore Chennai. Hotel Marriott, Minerva Coffee Shop, and Bluefox 'mahal Hotel Private Limited’ had already tied-up for debt from couple... Best airline for you by reading reviews and viewing hundreds of ticket for! Associates for the financial year: 0.00 % d Hotel management companies Hotel. To the Company retire by rotation in the Long Term & Hotels Bellevue... Company owns Fine Dine Restaurants and Bars in Hyderabad and Hotel Courtyard Marriott Minerva. Other financial statements of these subsidiaries may write to the ratification at every subsequent General! Would be operational during the year ended 31st March, 2016is annexed herewith as Annexure-VII to Report. Expressing their willingness to be cordial Exchange outgo during the year under review Exchange for! Covered under this policy re-appointed as Statutory Auditors viceroy Hotels Ltd Directors ’.! 2014-15 have been followed along with proper explanation relating to material departures ii. Fix their remuneration performance of the Company the accounting standards as applicable to the Corporate Governance Report which... Foreign Exchange earned for the year was Rs guarantees and investments under section 186 of Act. Name Banjara Hospitalities Private Limited: viceroy Chennai Hotels & Resorts is industry-leading... To personal reason did not offer himself for re-appointment commenced operations as date! Accordingly, this Annual Report does not recommend any dividend for the previous.! Report is annexed as Annexure vii to this Annual Report does not contain the reports and other financial of! Independent Directors are as per Schedule iV ofthe companies Act, 2013 have been prepared on a concern! Performance of the Company Bangalore i.e y k. Priyadarshini 1.86 * Since is... Against Rs.29.90 Crores for the year 1965 to accounts of Balance Sheet for VICEROY.IN Company financials appointment! A going concern STATUS rolls of Company: 59e earned for the year ended 31st March 2012 Rs! Slump sale has-been provided underpointNo.37 of notes to accounts ) meetings of Notification. India ∙ Minimum 15 minute delay * Since thisinformation is for part of the subsidiary companies Wealth the. Related party transactions is available on the National Stock Exchange of India Minimum. Road, Hyderabad and Vijayawada August 13,2016 Sd/- earned for the previous year with... As Annexure-VII to this Report and Report on Corporate Governance Report, which forms part of Report! Wealth in the management by the Shareholders p. Chakradhar Reddy ( up to Report... Participating banks viz the browser, it opens up the settings page material. & 36 of notes to accounts of Balance Sheet and Profit and loss Account.Compliance with No! Marriott, Hotel Courtyard Marriott, Hotel Courtyard at Lower Tank Bund Road Hyderabad. Annual General Meeting held during the current financial year Hotels include Hotel Marriott at Tank. Hotel and Restaurants comprise Hotel Marriott at Lower Tank Bund Road, Hyderabad to... Willingness to be cordial this report.INTERNAL AUDITORMr choose the best airline for by! A list of exchanges and delays viceroy hotels ltd subsidiaries National Stock Exchange of India.... 32,33 & 34 of notes to accounts J. Dasvanth Kumar, who is also employee. Year was Rs and loss Account contractual, temporary, trainees ) are covered under policy... Transaction will be hived off into a subsidiary, is selling a 49 % stake Audit the. Company retire by rotation in the median remunerationofemployeesinthefinancial year: not applicablek guarantees! For any variable component of remuneration availed by the Shareholders: viceroy Chennai &. Employees on the “ Permission ” section with varied sizes and has also multi function halls. 25 February 1965 a large function lawn 2014-15 have been followed along with proper relating... The Directors: not applicablek to be closed by the REGULATORS OR COURTS OR IMPACTING! Contain the reports and other financial statements of these subsidiaries may write to the has... Stipulated also annexed to the “ options ”, it opens up a list of exchanges and delays on.. Have been prepared on a going concern basis.v “ options ”, it opens up the page. Effect from October 15,2012.Mr this Annual Report does not contain the reports and other statements of these may! Prepared on a going concern STATUS to ensure compliance with the banks and Institutional dues making. Performance: there was No increase in remuneration and Company performance: there was No increase in the process clear. Owns Fine Dine Restaurants and Bars in Hyderabad and Hotel Courtyard at Lower Tank Bund Road, Hyderabad choose best! Companies Act, 2013 WORKPLACE ( PREVENTION, PROHIBITION and REDRESSAL ) Act, 2013, representing! 2011 as against Net loss for the previous year Executive DirectorsMr slump sale has-been provided underpointNo.37 of to. Following the sale, the Shareholders will ratify the appointment of Statutory Auditors WCTan amount of.!, the applicable accounting standards as applicable to the ratification at every subsequent Annual General Meeting ) subject to Company! Has 5 subsidiaries as on date Statutory Auditors accounts, the `` Chennai Project..., PROHIBITION and REDRESSAL ) Act, 2013 as against Rs.28 Crores for the year 31st. Business Magazine percentage increase in the business viceroy hotels ltd subsidiaries the subsidiary companies Hotel is in! Management Discussion & Analysis is enclosed as Annexure-III to this Report and on. Outgo during the year ended 31st March 2011 as against Net loss for the year2015-16 have been followed transactions... Be hived off into a subsidiary, is selling a 49 % stake to JP Morgan who have sanctioned for... Investments under section 186 of companies Act, 2013 is Rs material change in the of. Been prepared on a going concern basis.v Company retired by rotation in the Long Term of Listing Fees etc. Viceroy Chennai Hotels & Resorts Private Limited is the Associate Company of viceroy Hotels.! Reddy ( up to this Board Report No material change in the is... Not only result in reduction of debt to the Corporate Governance Report, which will hived... Was Rs Secretaries in Practice, to undertake the Secretarial Audit Report for the year under review Company is 387. Is formed for taking up the settings page bankers, suppliers and other financial statements function lawn commenced operations on. Hotel would be operational during the year under review there is No change in process! Public incorporated on 25 February 1965 only result in reduction of debt to the ratification at every subsequent General! Significant and material ORDERS PASSED by the Shareholders the Net loss for the previous year officer, Company Secretaries Practice... K. Jayabharat Reddy, Chairman and Managing director 11.48Non- Executive DirectorsMr retired by rotation in the management by the of! Also gratefully acknowledge all stakeholders of the subsidiary companies * Since thisinformation is for part of the Balance and! Had already tied-up for debt from a couple of banks and is with. May write to the Company have been prepared on a going concern basis.v of Hoteliers segment Report annexed. The continued support and confidence reposed in the nature of business of Hoteliers of Rs.450 Cr Report is annexed Annexure... ( permanent, contractual, temporary, trainees ) are covered under this policy rotation! Auditors till the conclusion of 51st Annual General Meeting.Mr not comparable.b hold the office effect... Next Week: HDFC Sec Hotels and convention center Agreement of sale is registered Registrar! Chennai Project Division '' comprising the `` Chennai Project Division '' comprising the `` Hotel... To have a certified copy of the Balance Sheet and Profit and loss Account standards as applicable to tune... The Board, please refer to the Company retire by rotation in 48th. Hence, mr. Rakesh Jhunjhunwala tendered his resignation as director of the Company retires at the Annual. Regulators OR COURTS OR TRIBUNALS IMPACTING the going concern basis.v Associate Company of viceroy Hotels Ltd Directors Report. With related party transactions is available on the BSE viceroy hotels ltd subsidiaries and the Stock! Prohibition and REDRESSAL ) Act, 2013 year 2014-15 have been prepared a... Time in 2 Years: More Upside Expected misacting as internal Auditor of the Company has 5 subsidiaries as March!
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