Woo Yang Electronics India 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:
Not having updated fixed assets register, not having a whole time Company Secretary as required by Section 383A of the Companies Act, 1956 and non provision of gratuity and leave encashment as required by Accounting Standard 15 and non recognition of Accounting Standard 22 as there is substantial doubt regarding realization of deferred tax assets and not providing the value of the impaired assets as required by AS-28, disposal of entire fixed assets which raise doubts on its going concern status.
Not having updated fixed assets register, not having a whole time Company Secretary as required by Section 383A of the Companies Act, 1956 and non provision of gratuity and leave encashment as required by Accounting Standard 15 and non recognition of Accounting Standard 22 as there is substantial doubt regarding realization of deferred tax assets and not providing the value of the impaired assets as required by AS-28, disposal of entire fixed assets which raise doubts on its going concern status.
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