Ruchi Infrastructure 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. As a prudent accounting policy, premium payable on the FCCBs, even though contingent upon non conversion of the FCCBs into Equity Shares, is proportionately charged to the Profit & Loss Account over the life of the FCCBs. In the event of the conversion of FCCBs into Equity Shares, the proportionate amount will be written back on pro-rata basis.
2. The provision for tax including deferred tax will be made at the end of the year.
1. As a prudent accounting policy, premium payable on the FCCBs, even though contingent upon non conversion of the FCCBs into Equity Shares, is proportionately charged to the Profit & Loss Account over the life of the FCCBs. In the event of the conversion of FCCBs into Equity Shares, the proportionate amount will be written back on pro-rata basis.
2. The provision for tax including deferred tax will be made at the end of the year.
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