Winsome Textile review on quarter results

12 Dec '07

1 min read

Winsome Textile Industries 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.

"1. Attention is invited to:
Pending confirmation / reconciliation of balance of certain debtors, loan & advances, creditors and bank (Impact unascertainable).

2. Further attention is invited to:
(a) Provision for depreciation has been made on Plant & Machinery as per the rates applicable to continuous process plant based on the technical evaluation which has been relied upon by the Auditors since it is a technical matter (impact unascertained).

(b) No Provision has been made for short fall in recovery (amount unascertainable) against Debts aggregating Rs 99.25 lacs for which legal and other persuasive actions for recovery has been initiated; since in the opinion of management these debts are good and recoverable.

(c) No provision of current tax, deferred tax, FBT (including Interest) has been made.

(d) Non provision of exchange gain / losses on balances of certain debtors, creditors and on foreign currency loan liabilities (amount unascertainable)."

Winsome Textile Industries Ltd

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