Sathavahana Ispat - Limited Review for the quarter ended Sep 30, 2007

Sathavahana Ispat 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:

"Non provision of current tax and deferred tax for the period ended September 30, 2007 and consequential adjustments from out of the Profit for the period as provided in Accounting Standard 22 i.e., 'Accounting for Taxes on Income' issued by the Institute of Chartered Accountants of India."