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.