1. The above results have been subjected to limited review by the statutory auditors and were taken on record in the meeting of the Board of Directors held on 22nd January 2007.
   
   
2. In respect of the audit qualification pertaining to 31st March, 2006 with regard to non-provision of various income tax demands being contested by the Company, such demands have either been set aside or adjusted and refunds have been granted to the Company. However, the matters for certain assessment years are pending before the Settlement Commission. The Company has provided / paid the tax liabilities as per tax computations, returns filed and admissions / estimations in this respect. Over and above, contingency provision amounting to Rs 6150 lacs has also been kept in the accounts. In view of the management, the provisions made are adequate and no further provision for tax is necessary.
   
   
3. a) Pursuant to a Scheme of Amalgamation approved by the Hon'ble High Courts of Calcutta and Bombay during the quarter, Shaw Wallace Financial Services Limited (SWFSL), a wholly owned subsidiary of the Company has been amalgamated with another subsidiary viz. Shaw Wallace Breweries Limited (SWBL)effective from 1st April 2005 being the appointed date. Consequently SWFSL has ceased to be a subsidiary of the Company.
   
   b) Rs.6468 lacs provided for in the previous year for diminution in value of investments in respect of SWFSL and SWBL being no longer required has been written back during the quarter and included in Other Income.
   
4. There was no complaint from the shareholders pending at the beginning of the current quarter. Thirty eight complaints were received during the quarter and were duly attended. There is no pending complaint at the end of the quarter.
5. The Company is currently having only one segment i.e., income from liquor business and therefore segmental disclosure requirements are no longer applicable.
6. Previous period / year figures have been regrouped wherever considered necessary to conform to the current period's classification.

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