Shalimar Wires Industries 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. Non Provision against:
i) Loans given including interest thereon Rs 565.39 lacs, which have not been repaid as stipulated;
ii) Sundry Debtors and advances of Rs 28.75 lacs;
iii) Impairment Loss and Contingent Liabilities as required under AS 28 and AS 29 respectively issued by the Institute of Chartered Accountants of India;- quantum unascertained.
2. Preparation of accounts on going concern basis although the net worth of the Company has fully eroded.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment