Winsome Textile Industries Ltd has informed that in the limited review report of the Company for the quarter ended June 30, 2007, the Auditors of the Company have made the following observations:
1. 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).
2. 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.
3. No provision of current tax, deferred tax, FBT (including Interest) has been made.
Winsome Textile Industries Ltd
marketing@alchempro.com
