IL&FS Investsmart 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 unaudited consolidated financial results include total income of Rs 20.39 lakhs and total expenditure (including interest and depreciation) of Rs 41.43 lakhs relating to a subsidiary and Rs 5.87 lakhs being Companys proportionate share in the profit of one associate for the quarter ended June 30, 2007, which have been consolidated on the basis of unaudited financial information which were not subjected to audit / review by respective auditors.
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