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| Exchange Disseminated Time | Tamilnadu Telecommunications Ltd has informed BSE that in the limited review report of the Company for the quarter ended September 30, 2007, the Auditors of the Company have made the following observations:
"1. Preparation of accounts on going concern basis despite substantial losses, which exceeds the Company's net worth and consequent reference to BIFR, the impact of which on the financial results of the Company is not ascertainable.
2. No Provision is made in the accounts for certain long outstanding debtors the recoverability of which is dependent on the decision of the court in the case filed by the said debtor against the Arbitration Award.
3. No Provision for interest is made for Rs 67 lakhs in respect at bank account which has been declared as NPA by the bank". |
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