Punj Lloyd 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:
Without qualifying their opinion, the Auditors draw attention to the deductions made / amounts withheld by some customers aggregating to Rs 74.83 crore on various accounts which are being carried as sundry debtors. The Company is also carrying Work in Progress inventory of Rs 6.40 crore relating to one of the aforesaid customers. The ultimate outcome of the above matters cannot presently be determined although the Company is of the view that such amounts are recoverable and hence no provision is required there against.
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