Sahara One Media & Entertainment 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 Companys loans and advances as on June 30, 2007 include balances aggregating to Rs 58.2 million outstanding for more than 3 years for acquiring television and film content which have not been adjusted or utilized at June 30, 2007 nor have these been confirmed at that date. In the absence of sufficient and appropriate evidence, the auditors are unable to express an opinion on extent of non-recoverability of these advances and their consequent impact, if any, on the Companys profit for the three months ended June 30, 2007.
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