Xpro India 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:
Attention is invited to Note No 3 & 4 of accompanying statement of unaudited financial results which states that the provision of liability for Gratuity & Leave for the quarter has been based on the most recent actuarial valuation. The impact, if any, of revised Accounting Standard 15 will be appropriately dealt with at the year end and Provision for income tax, deferred tax & fringe benefit tax, if any, to be provided at the year-end (amount not ascertained) respectively.
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