IOL Netcom Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:
Pursuant to the approval of scheme of amalgamation between IOL Netcom Ltd (Formerly known as IOL Broadband Ltd) and Exatt Technologies Pvt Ltd, the financial results of Exatt Technologies Pvt Ltd, which have been reviewed by A K Bhandari & Associates, have been included in the above unaudited financial results and relied thereon.
Non-recognition of Deferred Tax (Assets / Liabilities) as required by AS 22 Accounting for taxes on Income as stated in Note No 9.
Pursuant to the approval of scheme of amalgamation between IOL Netcom Ltd (Formerly known as IOL Broadband Ltd) and Exatt Technologies Pvt Ltd, the financial results of Exatt Technologies Pvt Ltd, which have been reviewed by A K Bhandari & Associates, have been included in the above unaudited financial results and relied thereon.
Non-recognition of Deferred Tax (Assets / Liabilities) as required by AS 22 Accounting for taxes on Income as stated in Note No 9.
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