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Gini Silk Mills Ltd has informed BSE 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. The Company has not provided current tax liability and deferred tax liability for the quarter ended on December 31, 2007 as specified in the Accounting Standard 22 - “Accounting for Taxes in Income”.

2. Liability for gratuity, audit fee and the charge of preliminary expenses for the quarter ended December 31, 2007 has not been provided for.

3. Disclosure regarding Earnings Per Share for the quarter ended on December 31, 2007 as required by Accounting Standard 20 - “Earnings Per Share” has not been made.

4. Fringe Benefit Tax for the quarter ended on December 31, 2007 has not been provided.”

Tags: Gini Silk Mills

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