Spice Islands Apparels 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:
The Company has not provided for liability on account of gratuity for the quarter ended December 31, 2007, however the Auditors have been informed that gratuity will be provided on actuarial valuation at the end of the year.
The Company has not provided for impairment of fixed assets, if any, as per accounting standard 28 Impairment of Assets issued by Institute of Chartered Accountants of India in the financial results for quarter ended on December 31, 2007.
The Company has not provided for liability on account of gratuity for the quarter ended December 31, 2007, however the Auditors have been informed that gratuity will be provided on actuarial valuation at the end of the year.
The Company has not provided for impairment of fixed assets, if any, as per accounting standard 28 Impairment of Assets issued by Institute of Chartered Accountants of India in the financial results for quarter ended on December 31, 2007.
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