Solid Containers Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2017
1. The above financial results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 30 May 2017.
2. The operations of the Company have been suspended from September 1998, since not commercially viable to continue.
3. There are no pending dues to Banks or Financial Institutions.
4. The number of investors Complaints at the beginning and at the end of the quarter were nil.
5. The Company has been incurring substantial business operating losses due to closure / not viable of commerical operations of the Company and the Net worth of the Company is eroded due to accumulated losses. In the absence of rehabilitation / revival measures, the Company is no longer a going concern. The effect on the loss for the year end and net worth of the Company is yet to be ascertained.
6.Figures for the quarter are the balancing figures between the audited figures in respect of full financial year and the published year to date unaudited quaterly financial results.
7. Figures of previous period have been regrouped / reclassified / rearranged wherever considered necessary.