Twilight Litaka - Limited Review For The Quarter Ended Dec 31, 2006

Twilight Litaka Pharma Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:Auditors qualifications referred to in their report dated June 23, 2006 on the accounts for the year ended March 31, 2006 with regard to doubtful receivables amounting to Rs 2,20,03,951/-, non provision of additional liability on account of gratuity and leave encashment and non provision for contingent liability on account of stamp duty and sales tax demand, on which there is no change in status.

SB&T International - Limited Review For The Quarter Ended Dec 31, 2006

SB&T International Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:(Rs in Lacs)------------------------------------------------------------------------------------------ParticularsAs approved by the BoardAs reviewed by the Auditors ------------------------------------------------------------------------------------------Staff Cost47.0529.98Interest8.9924.77Profit before tax136.86101.48Deferred Tax0.21(2.65)Net Profit forthe period (after tax)101.2274.30Basic & Diluted EPS (in Rs)0.620.45

Irplast Adhesives - Limited Review For The Quarter Ended Dec 31, 2006

Irplast Adhesives India Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:Loss has been overstated by Rs 3.13 lacs as on December 01, 2006.

Taneja Aerospace - Limited Review For The Quarter Ended Dec 31, 2006

Taneja Aerospace & Aviation Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:1. The Company has changed its accounting policy in respect of accounting of income from manufacturing of complex equipments from Completion Method To Proportionate Completion Method with a view to better financial representation in connection with matching principles. Due to this, Rs 234 lacs (net) has been included in the revenue on the basis of technical estimates. Impact of the same on profit for the period was net ascertained.2. It was explained to the Auditors that due to carry forward losses and expansion during the year, the company is liable to pay tax based on book profit only. The effect ofAccounting Standard (AS) 22 i.e. deferred tax asset / liability, if any, will be accounted at the year-end.

UB Engineering - Limited Review For The Quarter Ended Dec 31, 2006

UB Engineering Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:2. There is variation in Other Income of Rs 12 lacs and Rs 19 Lacs for Quarter ended December 31, 2006 and the Nine months ended on that date respectively, as compared to the amounts reported by the Company in the unaudited results for the same Quarter and Nine months ended December 31, 2006 filed with the stock exchange. These variations are in excess of prescribed limit of 20%.3. The Company has accumulated loss gives rise to deferred tax assets. As a policy, the Company recognizes such assets only in its Annual Accounts in accordance with the Accounting Standard 22. No amount of such assets is, thereof, recognized for the said Quarter and Nine months ended December 31, 2006.4. The Company has not recognized of Impairment of Assets in accordance with the Accounting Standard 28 and has not complied with the requirements of Accounting Standard 17 - Segment Reporting.

Andhra Cements - Limited Review For The Quarter Ended Dec 31, 2006

Andhra Cements Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:1. Non accounting / disclosure of impact on account of deferred taxation for the quarter under report if any.2. Treatment of deferred taxation and non disclosure thereof with impact on the audited accounts for the year ended September 30, 2006 as commented upon by the Auditors in their audit report for the year ended September 30, 2006.

Bright Brothers - Limited Review For The Quarter Ended Dec 31, 2006

Bright Brothers Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the auditors of the Company have made the following observations:1. Non discloser of Auditors qualification on financial statement for the year ended June 30, 2006 and its status there on.2. Attention is invited to the Auditors qualification in the Balance sheet as on June 30, 2006 regarding non provision of disputed / doubtful claims & advances still remains un-provided. The Company has not provided for disputed / doubtful claims and advances etc aggregating to Rs 785.32 lacs. If the impact of the same has been considered, the loss for the quarter ended December 31, 2006 would have been Rs 723.09 Lacs against the reported profit of Rs 62.33 Lacs.

Kirloskar Electric - Limited Review For The Quarter Ended Dec 31, 2006

Kirloskar Electric Company Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:1. Reconciliation of few bank accounts.2. Reconciliation between subsidiary and general ledgers.3. Reconciliation of accounts between the Company and its subsidiary company Kaytee Switchgear Ltd from whom the Company purchases finished goods and sells to its customers.The impact of any adjustments that may be required on completion of the said reconciliations are unascertainable at this stage.4. Inventories of Rs 225.23 Million adopted for compilation of the unaudited financial results are as valued and certified by the management and not reviewed by the Auditors.

K M Sugar Mills - Limited Review For The Quarter Ended Dec 31, 2006

K M Sugar Mills Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:No provision is made for deferred tax / liabilities in the quarterly financial result by the Company as required by the Accounting Standard 22 on Accounting for taxes on Income issued by the Institute of Chartered Accountants of India (ICAI).

S Kumars.Com - Limited Review For The Quarter Ended Dec 31, 2006

S Kumars.Com Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:Non-compliance by the Company with the recommendation of :(a) Accounting Standard-21 in respect of declaration of consolidated financial results including those of the Companys subsidiary for the period and (b) Accounting Standard-28 in respect of impairment of assets, if any, for the period.

Numeric Power - Limited Review For The Quarter Ended Dec 31, 2006

Numeric Power Systems Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:1. Management has in informed that the Company continues to adopt same accounting policies and positions in respect of the following matters referred to in the auditors report dated May 29, 2006 issued on the financial statements prepared for the year ended March 31, 2006:2. Without considering the Auditors observations vide paragraph 1(a) above, whose impact on the Companys profit is presently unascertainable, had the impact vide paragraph 1(b) above been considered, the profit for the three months ended December 31, 2006 would have been Rs 54.3 million as against the reported net profit of Rs 62.5 million.

Sanwaria Agro - Limited Review For The Quarter Ended Dec 31, 2006

Sanwaria Agro Oils Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:Accounting Standard - 15 (Revised 2005) accounting for retirement Benefits in the financial statements of employees and other recognized accounting practice and policies.

Chromatic India - Limited Review For The Quarter Ended Dec 31, 2006

Chromatic India Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:Nothing has come to the Auditors notice that casuse them to believe that the accompanying statement :(a) has not been prepared in accordance with accounting standards issued by the Institute of Chartered Accountants of India and other recognized accounting policies and practices except for Accounting Standard 15 on Accounting for Retirement Benefits in Financial Statements of Employers, Accounting Standard 17 on Segment Reporting, Accounting Standard 22 on Accounting for Taxes on Income and Accounting Standard 28 on Impairment of Assets.(b) the qualifications in Auditors Report on annual accounts of the Company with regard to non confirmations of amounts due from / to various parties, non provision / non confirmation in respect or bills discounting of Rs 156.75 lacs and amounts due thereon Rs 101.68 lacs and non provision of diminution in value of investment of Rs 26.23 lacs along with receivables and short term loan of Rs 100.59 lacs from wholly owned subsidiary have not been redressed in unaudited results for the quarter ended December 31, 2006.

Ispat Industries - Limited Review For The Quarter Ended Dec 31, 2006

Ispat Industries Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:In terms of Accounting Standard 22, net deferred tax asset (DTA) of Rs 674.62 crores [including Rs 41.14 crore (after adjusting the reversal of Rs 10.40 crores for the quarter) for the nine months ended December 31, 2006] has been recognized in the accounts upto December 31, 2006, based on the future profitability projections made by the management. However, the Auditors are unable to express any opinion on the above projections and their consequential impact, if any, on the recognition of such deferred tax asset.Had the impact of above item been considered, there would be a loss of Rs 766.27 crores (including DTA of Rs 674.62 crores accounted for upto December 31, 2006) as against the reported loss of Rs 91.65 crores for the nine months ended December 31,2006.

Polygenta Technologies - Limited Review for the quarter Ended Dec 31, 2006

Polygenta Technologies Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:1. The Company has not made any adjustment in respect of revised Accounting Standard 15 - Employee Benefits applicable to the Company with effect from April 01, 2006 which would be given effect to at the year end. The impact on the attached financial results, as explained by management, would not be significant.

Gulf Oil Corporation - Limited Review For The Quarter Ended Dec 31, 2006

Gulf Oil Corporation Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:1. Debtors and advances include outstanding for a period of more than three years Rs 850.41 lakhs (net of provisions of Rs 724.68 lakhs).2. Other Income for the quarter ended December 31, 2006 includes Rs 712 Lakhs (for the nine months period ended December 31, 2006 - Rs 1987 Lakhs) towards sale of development rights in Property to a wholly owned subsidiary. Part of the consideration i.e. Rs 1537 Lakhs for this sale was received by way of allotment of preference shares in this subsidiary. The Auditors of this subsidiary have qualified their audit opinion in respect of the financial statements for the year ended March 31, 2006 which were prepared on going concern basis.3. Fixed assets include capital work-in-progress and incidental expenditure during construction amounting to Rs 1677.16 Lakhs in respect of Specialty Chemicals Division which is being carried forward as an asset. Having regard to the considerable delay in the implementation of the Project, the Auditors are unable to comment on the appropriateness of carrying over this expenditure at cost.

BWL - Limited Review For The Quarter Ended Dec 31, 2006

BWL Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the company have made the following observations:1. Un audited financial result and segment report under review have been derived from the accounts complied on the basis of going concern concept not-with-standing negative net worth and reference of the Company to BIFR and notice issued by the Bank under section 13(2) of Securitisation of Financial Assets and Enforcement of Security Interest Act, 2002 with the Auditors consequent inability to express any opinion on the impact of adjustments on assets, liabilities and loss for the quarter in case the Company ceases to continue as a going concern following adverse predicament and;2. Premium on Rs 234 lacs on Redeemable preference shares, originally due for redemption on November 18, 2000 being kept in abeyance by the shareholders indefinitely, has not been provided for and;

Lime Chemicals - Limited Review For The Quarter Ended Dec 31, 2006

Lime Chemicals Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the company have made the following observations:1. No provision is made for the shortfall in the value of long-term investments in Regent Chemicals Ltd (RCL) Cost Rs 82.80 Lacs (Market Value Rs 16.78 Lacs as on February 16, 2001 being the last traded date) RCL has substantial losses as compared to its paid-up capital and free reserves. The Auditors are unable to express their opinion on shortfall in realisability of the investments and its consequent impact on the unaudited financial result for the quarter ended December 31, 2006.2. Sundry debtors considered good include Rs 83.04 Lacs, which is outstanding for a long period of time (more than 3years). The Auditors are unable to express their opinion on the shortfall on realization of these debtors and its consequent impact on the unaudited financial results for the quarter ended December 31, 2006.3. Foreign currency exchange loss / gain (if any) and gratuity liability as on December 31, 2006 have not been considered in the above review.

Suraj Stainless - Limited Review For The Quarter Ended Dec 31, 2006

Suraj Stainless Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:Variation in amount of other expenses and consequently amount of gross profit which is within allowable limit of 20%.

Morepen Laboratories - Limited Review For The Quarter Ended Dec 31, 2006

Morepen Laboratories Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:Non provision of interest on loans (public deposits) for the quarter amounting to Rs 282.21 lacs as a result the figure of loss for the quarter is under stated by Rs 282.21 lacs.

TCI Finance - Limited Review For The Quarter Ended Dec 31, 2006

TCI Finance Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:1. Non provision in respect of loans and advances aggregating to Rs. 163.70 lakhs due from certain bodies corporate, which have been, advised by Reserve Bank of India to be treated as loss assets, whose accumulated losses exceeded the shareholders funds. Having regard to the underlying assets these bodies corporates have, the management is of the opinion that the dues are good and fully recoverable and no provision is necessary at this stage. The Auditors are unable to express their opinion on this matter.2. The residual fixed deposits of Rs 1.06 laths of the Company, matured and remaining unclaimed, being in excess of the limit stipulated in the Non-Banking Financial Companies Prudential norms (Reserve Bank) directions 1998. The Company has deposited the unclaimed amount in an Escrow Account with a nationalised bank.

Welspun Syntex - Limited Review For The Quarter Ended Dec 31, 2006

Welspun Syntex Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:The Company has got its assets revalued by an approved valuer, resulting in net diminution in the value by Rs 45.98 Crores. However the Company has not taken any decision on such revaluation, hence no effect of thereof is taken in quarterly result. Hence the auditors have not reviewed note no 3 to the published result and nor made any comments thereon.

Northgate Technologies - Limited Review For The Quarter ended Dec 31, 2006

Northgate Technologies Ltd has informed that in the limited review report of the company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:Receivables of the company as at December 31, 2006, include long outstanding dues from subsidiaries amounting to Rs 2,783.35 lakhs. The management considers these receivables as good and fully recoverable, the fact of which cannot be independently established by the Auditors. The amount of provision, if any, that may be necessary in the event of non recovery, is presently not ascertainable, which in the opinion of the management may be insignificant.

Ocean Agro - Limited Review For The Quarter Ended Dec 31, 2006

Ocean Agro India Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2006, the Auditors of the Company have made the following observations:Audit remark for short provision of bad-debt & deferred revenue expenditure of Rs 1247 Lacs.