Williamson Financial Services 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:
As indicated in Note 1 on the financial statements, the year-end-provision of Rs 2,500 lacs in respect of gross diminution for the current period ended December 31, 2007, other than temporary, in the value of long term quoted investment of Rs 2546.72 lacs is considered prudent at this stage by the Management. However, the extent of diminution as could be permanent in this regard and resultant adequacy of provisions therefore is not currently ascertainable.
As indicated in Note 1 on the financial statements, the year-end-provision of Rs 2,500 lacs in respect of gross diminution for the current period ended December 31, 2007, other than temporary, in the value of long term quoted investment of Rs 2546.72 lacs is considered prudent at this stage by the Management. However, the extent of diminution as could be permanent in this regard and resultant adequacy of provisions therefore is not currently ascertainable.
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