Visa Steel 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:
As stated in note 4 of Statement of un-audited financial results, impact if any, on certain employee cost in terms of Accounting Standard (AS) 15 (Revised 2005) on Employee Benefits, issued by the Institute of Chartered Accountants of India has not been ascertained and accounted for. The impact of the item as mentioned above on the results of the Company for the three months period ended June 30, 2007 could not be readily ascertained at this stage.
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