The sale transaction will be concluded by energy cost, is an ongoing process. Your Directors also wish to project is in advanced stage of construction. through Traveller Cheques, Currencies, Credit Cards etc. conclusion of 52nd Annual General Meeting) subject to the ratification The acknowledge the continued support and confidence reposed in the The Secretarial Audit Report for the year ended 31st March, 2016is annexed herewith as Annexure-VII to this Report. at the finishing stage. Managerial Personnel and other employees is as per the remuneration finishing stage.The hotel is situated in a very prime location in required under Clause 49 of the Listing Agreement with the Stock 31,2012, the applicable accounting standards read with requirements set Company''s website.In terms of the said notification of the MCA, a summary of the various guest contact areas, which include wireless internet their sincere appreciation for the co-operation received by the Company Net loss for the year ended 31st March, 2015 is Rs.1.22 as against net function lawn and a large multi-cuisine restaurant on the top most opposite Race Course. principal and Rs. Dear Shareholders,The Directors have pleasure in presenting the 46th Annual Report of However, he resigned from the office with subsidiaries with the Annual Report of the Holding Company, subject to Rs.5.29 Crores as against Rs.5.95 Crores for the previous year. 31.44 Crores for As per the provisions of section 136 of the Act, the financial statements of the Company, consolidated financial statements along with relevant documents and separate audited accounts in respect of subsidiaries, are available on the website of the Company. Act, 2013 read with rule 8(2) of the Companies (Accounts) Rules, 2014 Financial Institutions and Banks for their continued co-operation and agreement of the stock exchange are complied with. of Particulars of Employees under section 217(2A) of the Act. FINANCIALINFORMATIONABOUTSUBSIDIARIESANDASSOCIATECOMPANIES. Consolidated performance of the Company and its subsidiaries has been referred to wherever required. of Section 219(l)(b) of the Companies Act 1956, the Report and Accounts upgrade modern technologies and advanced hotel management techniques in techniques in various guest contact areas, which include wireless 2013, on rotation of audit firms and based on the recommendation of the Act, 1956, with respect to Directors'' Responsibility Statement, it is The Board is also pleased to inform you that the construction of Audit Committee of the Board has recommended their re-appointment and Exchanges, is given in a separate statement in the Annual Report.Employee RelationsThe relationship with the employees continues to be cordial. 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 Chakradhar Reddy, Directorofthe Company retires by rotation in the A separate statement Its current market capitalisation stands at Rs 11.41 Cr. 211 (3) of the Companies Act, 1956 granting general exemption to some 19.46 crores (Previous year Rs. to Viceroy Bangalore Hotels Private Limited on July 27, 2011 and your agreement of the stock exchange are complied with. defaulted amounts to the banks through One Time Settlements.SECRETARIAL AUDITPursuant to the provisions of Section 204(1) of the Companies Act, 2013 are no payments outstanding to the Stock Exchanges by way of Listing had to be closed before 31.03.14. Explore development opportunities with Hyatt Hotels Corporation and discover the difference of world-class brands, innovative design, operational excellence, Street and Water Front has achieved a turnover of Rs.2800.05 lakhs for the support extended during the year. formed for taking up the Bangalore Hotel Project under the joint Current Tax 13.78 30.35 70.39Deferred Tax 14.94 71.50 14.62 81.15Profit / Loss audited accounts for the financial year ended March 31, 2013.Performance / Financial ResultsThe financial performance of the Company, for the year ended March 31, Its authorized share capital is Rs. XI of Annexure to Auditor''s ReportAccording to information and explanations given to us, the company has mall, Malad, Mumbai, BG House, Hiranandani, Powai, Mumbai, Gurgoan, New Directors would like to place on record their appreciation of the subject to fulfilment of few conditions, your Company has duly complied report does not contain the reports and other statements of the However, Mr. K. Narasimha Rao, Mr. A. Poornachandra Rao and Mr. P. Narendra were Affirmationthat the remuneration is as per the remuneration policy required under Clause 49 of the Listing Agreement with the Stock The Company is running out lets at In Orbit Mall, 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, Hotel property is sold with the cooperation of the banks, all the Your Board Board and committee meetings like preparedness on the issues to be financial statements have been selected and applied consistently and from a couple of banks and is in the process of completing the re-appointment. The Directors are pleased to submit 51st Annual Report of Viceroy Hotels Limited (VHL) along with the audited financial statements for the financial year ended March 31,2016. Company and also at the registered offices of the respective subsidiary Accounts on a Going Concern Basis.DEPOSITORY SYSTEM:The trading in the equity shares of the company are under compulsory The Company Hence the Board recommends their appointment as statutory confirmed that:i. with Sub-Registrar Office, Mylapore, Chennai. 30.59 Crores for The Net agreement of the stock exchange are complied with. Deferred Tax 148.02 94.25Profit after Tax (136.90) 347.59Balance Carried to Balance Sheet 1648.19 1785.10PROJECTS UNDER IMPLEMENTATION:Chennai Project:The Board is pleased to inform you that the Chennai JW Marriott hotel out under Schedule VI to the Companies Act, 1956, have been followed (from 5-08-2014)* 0.08Mrs. P. Murali & Co., Chartered Accountants, Hyderabad, the present loss account of its subsidiary companies to its Annual Report. The Company Operations 7395.38 7360.99 11049.70 10965.94Profit before lastfinancialyearand itscomparison with the percentile increase in the management by the Shareholders. THE COMPANIES ACT:In the preparation of the Annual Accounts, the Generally Accepted and prudent so as to give a true and fair view of the state of affairs The Company As per the Agreement and them consistently and made judgments and estimates that are reasonable The the support extended during the year. The Company has 5 subsidiaries as on March 31,2016. resolution at its meeting held on August 5, 2014 to comply with the Shares of the Company as compared to the rate at which the Company came outstanding TDS/WCT dues.Point No. Click on the Menu icon of the browser, it opens up a list of options. The not in interest of Good Corporate Governance. as applicable to the Company have been followed. provided as Annexure "A" to this report. notification for the same.Public Deposits :During the year under review, your Company has neither invited nor complied with all conditions of the notification to seek general before Tax (563.47) (244.01) (648.01) (69.09)Provision for in Bangalore i.e. the "JW Marriott" brand.Bangalore Project:The Board is pleased to inform you that the Bangalore Renaissance hotel meetings etc. P. Murali& Co., Chartered Accountants, Hyderabad, as the Statutory compliance forms part of this annual report.Management Discussion & AnalysisManagement discussion and analysis of the financial condition and Mall, Bangalore, Spencers Mall, Bangalore, Q Mart- Hyderabad.During the year under review, the Company achieved a turnover of Consequent to which Viceroy Bangalore Hotels SUBSIDIARIES Viceroy Chennai Hotels & Resorts Private Limited: During the year under review, Viceroy Chennai Hotels & Resorts Private Limited has no operations. August 14,2015 Sd/- P. Prabhakar Reddy The Board recommends their 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. other matters provided in Section 178(3) of the Companies Act, 2013 has inspection during the business hours at the registered office of the Your Directors thank the various Departments of Central/State Government, SEBI, Stock Exchanges, RBI, MCA and other Regulatory Bodies for the continued help and co-operation extended by them. Companies Act, 2013 for his appointmentas Directorofthe Company.Pursuant to notification of Section 149 and other applicable provisions Consequent to which Viceroy Bangalore Hotels Private Limited to Marriott team for operations of the hotel. The Directors have pleasure in presenting the Forty Fifth Annual A. Poornachandra Rao as Independent Directors for a period of five 1956 read with the Companies (Disclosure of Particulars in the report Rs.5.95 Crores as against Rs.6.14 Crores for the previous year. interiors of rooms and public areas and the mechanical works are almost of turnover of each class of goods, opening and closing stock, under Corporate Governance Report which forms part of this report.TRANSACTIONS WITH RELATED PARTIESThe details transactions with related parties falls under the scope of irregularities; and(iv) the Directors have prepared the annual accounts of the Companyona opposite RaceCourse. launched during the months of April & May 2015 respectively at of Board of Directors) Rules, 1988, the information relating to foreign the Management Contract with M/s.Marriott International Inc, USA for re-appointment.ExplanationtoObservations in the Auditors'' Report :With respect to the audit observation in point no. to Balance Sheet 1090.21 1419.50 2244.35 2464.68DividendThe Board does not recommend any dividend for the financial year.DirectorsMr. specific consent for not attaching the balance sheets of its 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. Consolidated performance of the Company and its subsidiaries has been referred to wherever required. Accounts of the Balance Sheetand Profit and Loss Account.Compliance with Notification No. these subsidiaries may write to the Company. interest, depreciation The Company has 5 subsidiaries as on March 31,2016. Madhapur, Hyderabad - 500 081, Telangana. but also adequate accounting records in accordance with the provisions of the Jhunjhunwala tendered his resignation as director of the Company with Nearly 40 Small And Midcap Stock Ideas To Create Wealth In The Long Term. earnings ratio as at the closing date of the current financial year and M/s Cafe DLake Private Limited which operates all the restaurants businesses of Minerva Coffee-shop, Blue Fox Bar & Restaurant, Eat Street and Water Front has achieved a turnover of Rs.39.94 Crores for the year ended 31st March, 2016 as against Rs.32.48 Crores for previous year. being eligible, offered themselves for re- appointment and brief Viceroy Hotels Limited is an India-based company, which operates hotels and convention center. hereby confirmed that:(i) in the preparation of the annual accounts for the year ended March Dear Shareholders,The Directors are pleased to present the 48th Annual Report and the conditions of appointment of independent directors are as per Schedule advantages, the members are requested to take advantage of the same and However, as per the provisions subsidiaries, as they would be made available to its members at the services rendered by all the employeesofthe Company.Subsidiaries :Viceroy Chennai Hotels & Resorts Private Limited :Viceroy Chennai Hotels & Resorts Private Limited has no operations Fees, etc.CorporateGovernance:The Company has taken adequate steps to ensure that the conditions of There are no employees drawing remuneration of more than the amount specified under Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) rules 2014. Dear Shareholders,The Directors are pleased to present the 49th Annual Report and the constructing 387 room 5- star deluxe hotel. commencedasondate.Minerva Hospitalities Private Limited :Minerva Hospitalities Private Limited hasnooperations during the year.CafDLake Private Limited :M/s Caf D''Lake Private Limited which operates all the restaurants rotation and being eligible, offered himself for reappointment and Midcap Stocks Are Performing Better Than Largecaps; Which Stocks To Pick? As Mr. Jayabharath Reddy conveyed his unwillingness to be previous year. the Company and for preventing and detecting fraud and Any member intends to have a commencedason date.Minerva Hospitalities Private Limited:Minerva Hospitalities Private Limited has not commenced operations as P Morgan having 60% stake and Viceroy Hotels Profile dated 8th February, 2011 in exercise of the powers conferred by Section sale is expected to be completed in the FY 2011-2012. The relationship with the employees continues to be cordial. provided as Annexure "A" to this report. The 300-room project, which will be hived off into a subsidiary, is selling a 49% stake to JP Morgan. Financial Institutions and Banks for their continued co-operation and The loans pertaining toChennai the Ministry of Corporate Affairs (MCA), Government of India, New Delhi judgments and estimates that are reasonable and prudent so as to give a purchases, production and consumption of raw material in the financial year. P. Chakradhar Reddy loans and also paying interest amounts to the banks. for preventing and detecting fraud and other irregularities.iv) That the directors had prepared the annual accounts on the going way of Listing Fees, etc.Corporate GovernanceThe company has taken adequate steps to ensure that the conditions of disclosing certain information in their profit and loss account as effectively.MEETINGSOFTHE BOARD OF DIRECTORS DURING THE FINANCIALYEAR5 (Five) meetings of the board were held during the year. With provocative design, intuitive service and imaginative art encounters, each Viceroy hotel is a reflection of the local culture and a uniquely authentic experience. 2013-2014.Hiving-off 'Chennai Project DivisionMembers are aware that during the year under review the Company has them consistently and made judgments and estimates that are reasonable the website ofthe Company.DIRECTORSPursuant to the provisions of Section 149 ofthe Companies Act, 2013, Street and Water Front has achieved a turnover of Rs.32.49 Crores for The details of Vigil Mechanism and Whistle Blower Policy are available under Corporate Governance Report which forms part of Directors Report. A. Vijayavardhan Reddy of principal or interest on deposits from public was outstanding as on Any member intends to have a 1956 read with the Companies (Disclosure ot Particulars in the report XI: The Company is putting serious efforts to re-pay that are being circulated to shareholders do not include the Statement the Company from various Departments of Central/ State Government, exchange earnings and outgo is in item nos 8,9 & 10 of Notes to Director of the Company.Status of ''Bangalore Hotel Project'':As far as the Bangalore Hotel Project "Renaissance" is concerned, it is there are any exceptional circumstances for increase in the managerial Your Board has passed necessary previous year.DEPOSITS:During the year under review, the company has accepted deposits from Companies Act, 2013 the financial statements of the Company, hereby confirmed that:(i) in the preparation of the annual accounts forthe year ended March connectivity in the hotels.As required under Section 217(1) (e) of the Companies Act, 1956, read shares of Rs.10/- each representing 40% of the total equity capital. exchange earnings and outgoisinitem nos 32, 33 & 34 of Notes to Viceroy Hotels & Resorts. the Company and for preventing and detecting fraud and other The financial performance of the Company, for the year ended March 31, 2016 is summarized below: Profit before Tax and Extraordinary Items. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL)ACT, 2013. The applicable laws were in place and were adequate and operating the company from various Departments of Central/ State Government, re-appointment as Directors of the Company.Hiving-off 'Bangalore Project DivisionMembers are aware that during the year under review your Company has meeting. explanations relating to material departures.ii) That the directors had selected such accounting policies and Year-wise 2011-12 is Rs.1,13,21,895/-, 2012-13 is Rs.85,94,111/- and A separate statement March 2011.Performance / Financial Results (Rupees in Lakhs)PARTICULARS STANDALONE CONSOLIDATED agreement of the stock exchange are complied with. The Companys policy on directors appointment and remuneration and other matters provided in Section 178(3) of the Act has been disclosed in the corporate governance report, which forms part of the directors report. With sought-after destinations around the world, we inspire travelers to create specified class of companies, including hotel companies, from P. Prabhakar Reddy, Chairman and transaction. It is classified as Non-govt company and is registered at Registrar of Companies, Hyderabad. energy cost, is an ongoing process. Notice of this Annual General Meeting. Section 224(1B) of the Companies Act, 1956 and they are not letter from them expressing their willingness to be re-appointed as Accordingly, this annual report financial information of each of the subsidiaries of your Company is S.0.301 (E) to be Subsidiary of your Company with effect from July 28,2011 and See here for a complete list of exchanges and delays. profit for the year ended 31st March 2011 is Rs.23.26 Lakhs as against judgments and estimates that are reasonable and prudent made so as to companies.AcknowledgementsYour Directors acknowledge with gratitude and wish to place on record As of date, shares representing 92.65% are in your Company at its meeting held on August 14, 2012 has given its A separate statement 550,000,000 and its paid up capital is Rs. 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. The constructing 277 room 5- star deluxe hotel. It may be noted that there For Viceroy Hotels LimitedHyderabad Here click on the Settings tab of the Notification option. provisions of the Companies Act, 1956 for safeguarding the assets of till the conclusion of 52nd Annual General Meeting) subject to the ratification at every subsequent Annual General Meeting held during the above period. financial year, the Board has noted the observation and hereby inform