Melstar Information Technologies 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:
Note no 6 the unaudited financial results regarding loans / advances aggregating to Rs 19.36 lacs outstanding from a wholly owned subsidiary Company, whose net worth is eroded, considered good of recovery by the management for the reasons stated in the said note and note no 7 regarding the losses suffered by the Company and the Company exploring the avenues for increasing the turnover and on that basis, the expected continued growth in the operations as stated in the said note.
Note no 6 the unaudited financial results regarding loans / advances aggregating to Rs 19.36 lacs outstanding from a wholly owned subsidiary Company, whose net worth is eroded, considered good of recovery by the management for the reasons stated in the said note and note no 7 regarding the losses suffered by the Company and the Company exploring the avenues for increasing the turnover and on that basis, the expected continued growth in the operations as stated in the said note.
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