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;