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.