The Oudh Sugar Mills Ltd has informed the Exchange vide notes to Accounts in the Unaudited Financial Results for the quarter ended March 31,2009 (taken on record by the Board of Directors of the Company at its meeting held on April 20, 2009) that; "The Auditors in their Report on the Accounts for the year ended 30th June, 2008 had commented upon (i) non adjustment of certain realizations, in earlier years due to pending appeals and (ii) recognition of Deferred Tax Asset (net) and MAT credit entitlement based on future profitability projections, the impact whereof on the aforesaid financial results is not presently ascertainable. During the quarter, because of profits, Deferred Tax asset has got totally adjusted in the books".
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