Indian Bank has informed that in the limited review report of the Bank for the quarter ended December 31, 2007, the Auditors of the Bank have made the following observations:
The Bank has not recognized the deferred tax during the quarter in accordance with AS 22 - Accounting for Taxes on Income issued by ICAI, for the reasons stated in their Note No 6, forming part of the Review Report. The impact of the same in the financials is unascertainable.
The Bank has not recognized the deferred tax during the quarter in accordance with AS 22 - Accounting for Taxes on Income issued by ICAI, for the reasons stated in their Note No 6, forming part of the Review Report. The impact of the same in the financials is unascertainable.
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