ROYAL ORCHID HOTELS LTD. HOTELS 1 ANNUAL REPORT 2011 - 2012 BOARD OF DIRECTORS Chairman & Managing Director Mr. Chander K Baljee Whole time Director Mr. Sunil Sikka Independent Directors Mr. Naresh K. Malhotra Mr. R. V. S. Rao Mr. Vijay K Rekhi (w.e.f 06.07.2011) Mr. Jaithirth Rao ( Resigned on 16.05.2011) COMPANY SECRETARY Mr. K B Shyam Kumar STATUTORY AUDITORS M/s. Walker, Chandiok & Co. Chartered Accountants WINGS, First Floor, 16/1, Cambridge Road, Halasuru, Bengaluru 560008. INTERNAL AUDITORS M/S. P Chandrasekar Chartered Accountants S- 512, S-514, Manipal Centre, 47, Dikenson Road, Bengaluru 560 042 BANKERS State Bank of Hyderabad State Bank of India State Bank of Mysore State Bank of Travancore IDBI Bank Limited Axis Bank Limited Tourism Finance Corporation of India Limited REGISTRAR & SHARE TRANSFER AGENT Integrated Enterprises (India) Limited, 30, Ramana Residency, 4th Cross, Sampige Road, Malleswaram, Bengaluru – 560003. 080 - 23460815 – 818
[email protected] 2 ROYAL ORCHID HOTELS LTD. ROYAL ORCHID HOTELS LIMITED CONTENTS Description Page No. Report of the Board of Directors 4 Management Discussion and Analysis Report 10 Report on Corporate Governance 13 Auditors’ Report to Financial Statements of Royal Orchid Hotels Limited 24 Balance Sheet of Royal Orchid Hotels Limited 27 Statement of Profit & Loss of Royal Orchid Hotels Limited 28 Cash Flow Statement of Royal Orchid Hotels Limited 29 Notes to the Financial Statements of Royal Orchid Hotels Limited 31 Auditors’ Report to Consolidated Financial Statements 63 Consolidated Balance Sheet 64 Statement of Consolidated Profit and Loss 65 Cash Flow Statement 66 Notes to the Consolidated Financial Statements 68 Summary of Financial Infromation of Subsidiary Companies 93 Notice 94 3 ANNUAL REPORT 2011 - 2012 REPORT OF THE BOARD OF DIRECTORS Dear Shareholders, We have pleasure in presenting the Twenty Sixth Annual Report of the Company together with the Audited Accounts for the year ended 31st March 2012.