Muller & Phipps - Limited Review For The Quarter Ended Sep 30, 2006

Muller & Phipps India Ltd has informed that in the limited review report of the Company for the quarter ended September 30, 2006, the Auditors of the Company have made the following observations:No provision has been made for a loan given to a party amounting to Rs 20,00,000/- and interest accrued thereon of Rs 13,01,767/- which in the Auditors opinion is doubtful of recovery. Had the above provisions been made, the loss for the quarter would have been higher by Rs 33,01,767/-