Falcon Tyres 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:
1. Review with respect to payment of Rs 43.80 lacs for technical aid relating to tyres and capitalization of administrative expenses, interest and other charges aggregating to Rs 951.16 lacs as capital work in progress and outstanding debtors and recoverability thereof were pending at the time of compilation of the results for the quarter. Pending ascertainment of amounts thereof impact with respect to these on the financial results cannot be commented upon by the auditors.
2. The Revised Accounting Standard 15 on Employee Benefits has not been complied with. Necessary adjustment in this respect will be carried out at the year end. Impact with respect to this has not been ascertained and as such cannot be commented upon by the auditors.
3. Impact of variations, as noticed during the course of the said review on being given effect to in the items mentioned in the accompanying statement of unaudited financial results, are as given below:
(Rs in Lacs)
-------------------------------------------------------------------------------------
ParticularsFigures after rev- Figures as repor-
iew quarter endedted quarter endedJune 30, 2007
June 30, 2007
------------------------------------------------------------------------------------------
Depreciation84.2573.50
Fringe Benefit Tax4.945.00
Other Expenditure945.50880.25
Selling & Distribution700.44674.52
ExpensesCurrent Tax (Incl.18.4422.42
Deferred Tax)------------------------------------------------------------------------------------
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment