House of Pearl Fashions Ltd has informed BSE that in respect of publication of the Un-Audited Financial Results for the last quarter ended March 31, 2008, the Company Undertakes to Publish the Audited Results for the year ended March 31, 2008, within 3 months from the end of the last quarter, i.e. by June 30, 2008.
House of Pearl Fashions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 02, 2008, considered and approved of entering into a Joint Venture Agreement (JVA) with LERROS Moden GmbH, a German Multinational Company for launching Apparels, Accessories in Single Brand Category in India under the brand name “LERROS”, subject to necessary Government / Regulatory Approvals.
House of Pearl Fashions 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 applied the Revised Accounting Standard - 15 on “Employees Benefits” issued by The Institute of Chartered Accountants of India (ICAI). The Company proposed to apply the same at the financial year-end.
2. The Auditors have not reviewed financial statements of foreign subsidiaries reviewed by the other auditors for the purpose of limited review. Also for the purpose of Segmental reporting, the Auditors have relied upon the information complied by the management based on the reviewed financial statements by the other auditors.”