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| Exchange Disseminated Time | Switching Technologies Gunther Ltd has informed BSE about the following :
"We are 100% export oriented unit located in Special Economic Zone in Chennai. The Company have a very difficult financial position and running the unit only with the support of the holding Company Gunther America Inc. The recent global recession and the severe power cut in Tamilnadu had affected the operations further since October 08. The Company had a labour problem and after lot of negotiations a settlement was signed in the presence of Deputy Labour Commissioner. Despite this, the trouble with labors are going on.
While the Company is struggling to make its ends meet there was attrition in the accounting team. Even the new accounting person who joined in Oct 08 has left now leaving the Company in difficulty. The Company are trying its level best to complete the accounts and present the unaudited results for the quarter ended December 31, 2008 and to obtain the limited review of the Auditors." |
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