Idea Cellular Ltd has informed that in the Limited Review report of the Company for the quarter ended June 30, 2007, the Auditors of the Company have made the following observations:
The Company along with its subsidiaries namely, Idea Mobile Communications Ltd, BTA Cellcom Ltd, Idea Telecommunications Ltd, Sapte Investments Pvt Ltd, Vsapte Investments Pvt Ltd, Bhagalaxmi Investments Pvt Ltd and Asian Telephone Services Ltd have filed applications for amalgamation of these subsidiaries into the Company with the respective High Courts within whose jurisdiction the Registered Office of these Companies are situated.
The appointed date as per the scheme of amalgamation is April 01, 2006. The orders of High Courts for the proposed amalgamation of subsidiaries with the Company have been received in respect of the Company & three subsidiaries of the Company and have not been received for other subsidiaries.
Therefore the Statement of the Company has been prepared without giving any effect of proposed amalgamation of these subsidiaries with the Company.
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