Spectacle Ventures Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2017
Auditor and Management Disclosures and Notes for the quarterly results dated 30 Jun 2017
1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on September 14, 2017. The Statutory Auditors of the Company have carried out Limited Review of these results and the results are being published in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
2. The financial results of the company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended by the Companies (Indian Accounting Standards) (Amendment) Rules, 2016 and become mandatorily applicable to the Company with effect from April 1, 2017.
3. The format for Un-audited quarterly results as prescribed in SEBI's Circular CIR/CFD/CMD/15/2015 dated November 30, 2015 has been modified to comply with requirements of SEBI's Circular CIR/CFD/FAC/62/2016 dated July 5, 2016, Ind AS and Schedule III (Division II) to the Companies Act 2013 applicable to companies.
4. The Statement does not include Ind AS compliant results for the preceding quarter and the previous year ended March 31, 2017 as the same is not mandatory as per SEBI Circular CIR/CFD/FAC/62/2016 dated July 05, 2016.
5. Consequent to transition from the previous IGAAP to Ind AS, the reconciliation of Profit/(Losses) for the quarter ended June 30, 2016 is provided below in accordance with the requirements of Paragraph 32 of Ind AS 101, "First Time Adoption of Ind AS". Segment Reporting as defined in Ind AS 108 is not applicable, since the Company does not have any operating Income.(For Table, kindly refer Corporate Announcements on www.bseindia.com.)
6. The Ind AS compliant corresponding figures in the previous year have not been subject to review/audit. However, the company's management has exercised necessary due diligence to ensure that such financial results provide a true and fair view of its affairs.
7. Comparative figures have been rearranged/regrouped wherever necessary.