Bata India Ltd has informed that in the limited review report of the Company for the quarter ended September 30, 2007, the Auditors of the Company have made the following observations:
1(a) In the absence of physical verification / valuation of the stock of the Company, the same has been accounted for as per the book balances. The Company is unable to comment upon the impact, if any, on these accompanying results, had such verification and valuation been undertaken. In respect of the above, the auditors report for the previous quarter was similarly modified.
Limited review of the previous quarter also contains the above qualification. Separate prescribed disclosures in respect of reasons for non resolution and steps intends to be taken to resolve such qualification in line with Clause 41 of the listing agreement was not made in these accompanying results.
1(b) Reasons for improvements in profit disclosed in Note No. 1 of the accompanying un-audited financial results can not be commented on by the Auditors being of a qualitative nature.
1(c) Reasons for growth in net turnover as disclosed in Note No. 2 of the accompanying un-audited financial results can not be commented on by the Auditors being of a qualitative nature.
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