S.Kumars Nationwide Ltd has informed that in the limited review report of the Company for the quarter ended March 31, 2007, the Auditors of the Company have made the following observations:
"Non-compliance by the Company with the recommendations of (a) Accounting Standard - 21 in respect of declaration of consolidated financial results including those of the Company's subsidiary for the period (b) Accounting Standard - 28 in respect of impairment of assets, if any, for the period and (c) Accounting Standard - 29 in respect of non provision of contingent liabilities payable to franchisees as settlement."
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