H S India Limited (HSIL), was incorporated in 1989 in the name of Hotel Silver Plaza Private Limited. Subsequently in 1997, the constitution has been changed to public limited company and listed on Bombay Stock Exchange. HSIL operates a three-star hotel under the name 'Lords Plaza' and has entered into an agreement with Lords INN Hotels and Developers Limited to use brand name 'Lords'. The hotel comprises of 134 rooms, a multicuisine restaurant under the name 'Blue Coriander' and a sky grill restaurant under the name 'Lime tree'; six banquet halls and one liquor shop. The 'Lords Plaza' hotel is situated at Surat (Gujarat) and commenced its commercial operations in 1989. The Key Managerial Personnel (KMP) includes Mr. Ramesh Radheyshyam Bansal (CFO), Mr. Pushpendra Radheshyam Bansal (CEO), Mr. Hitesh Gopalbhai Limbani (Company Secretary). It's registered office is in Mumbai. 

­Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & review of the rating. However, the issuer/borrower failed to submit such information before the due date.

Acuité believes that information risk is a critical component in such ratings, and non-cooperation by the issuer along with unwillingness to provide information could be a sign of potential deterioration in its overall credit quality.

This rating continues to be flagged as “Issuer not-cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.

­The rating is based on information available from sources other than the issuer/borrower (in the absence of information provided by the issuer/borrower). Acuité endeavored to gather information about the entity/industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit rating is based.

­No information provided by the issuer / available for Acuite to comment upon.

­None

­No information provided by the issuer / available for Acuite to comment upon.

­Not Applicable

None­

­Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups.

­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’ s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in.