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Jindal Steel & Power 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:

“Not accounting for exchange differences on outstanding foreign currency assets and liabilities in line with the accounting treatment prescribed in Accounting Standard AS-11 ‘Effects of Changes in Foreign Exchange Rates’ notified in the Companies (Accounting Standards) Rules, 2006, the management considers the same to be accounted for at the year end.”

Tags: Jindal Steel

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