ISMT 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:
Exchange difference gain in respect of outstanding foreign currency loans, arising at the end of the quarter, amounting to Rs 24.41 Crores, is proportionately recognised and remaining gain of Rs 6.10 Crores is carried over to the remaining quarter of the financial year, which is required to be recognised as per the Accounting Standard 11.
Exchange difference gain in respect of outstanding foreign currency loans, arising at the end of the quarter, amounting to Rs 24.41 Crores, is proportionately recognised and remaining gain of Rs 6.10 Crores is carried over to the remaining quarter of the financial year, which is required to be recognised as per the Accounting Standard 11.
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