Rama Petrochemicals 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. No provision for Deferred Tax Liability has been made as at the end of the quarter as the Company would provide the same as at the year end as stated in Note 2.
2. Provision for employees benefits for the quarter has been made on the basis of management estimates instead of actuarial valuation as prescribed by AS-15 Employees Benefits, as stated in Note 3.
3. No provision for interest amounting to Rs 25.51 lacs on working capital loan.
4. No provision for interest amounting to Rs 1.72 lacs on unpaid custom duty.
5. Reference given for our observations in the Audited Accounts for the year 2006-07 also hold good for the quarter ended June 30, 2007 as stated at Note 8.
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