Pentamedia Graphics 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:
1. Though the Company has provided Deferred tax in respect of timing differences as required under Accounting Standard (AS 22), the adequacy of the same has not been verified by the Auditors.
2. Non provision of depreciation and its impact on certain assets as required to be provided as per the Accounting Standard (AS 6) is not quantifiable.
3. Bank Defaults:
a. Name of the Bank: UTI Bank Ltd - DRT
Principal Amount due as on December 31, 2007: Rs 24.97 Crores
b. Name of the Bank: KSSIDC
Principal Amount due as on December 31, 2007: Rs 3.76 Crores
c. Name of the Bank: First International Bank
Principal Amount due as on December 31, 2007: Rs 19.85 Crores
The above amount due on December 31, 2007 to Banks does not include interest that has accrued during the quarter, since the matter has been referred to Debt Recovery Tribunal.
1. Though the Company has provided Deferred tax in respect of timing differences as required under Accounting Standard (AS 22), the adequacy of the same has not been verified by the Auditors.
2. Non provision of depreciation and its impact on certain assets as required to be provided as per the Accounting Standard (AS 6) is not quantifiable.
3. Bank Defaults:
a. Name of the Bank: UTI Bank Ltd - DRT
Principal Amount due as on December 31, 2007: Rs 24.97 Crores
b. Name of the Bank: KSSIDC
Principal Amount due as on December 31, 2007: Rs 3.76 Crores
c. Name of the Bank: First International Bank
Principal Amount due as on December 31, 2007: Rs 19.85 Crores
The above amount due on December 31, 2007 to Banks does not include interest that has accrued during the quarter, since the matter has been referred to Debt Recovery Tribunal.
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