Maytas Infra Ltd has sought time to publish the unaudited financial results for the quarter ended December 31, 2008. The company has stated it will furnish results for the quarter along with the limited audit review report by the statutory auditors of the company within one month of the completion of inspection by the officials of registrar of companies (RoC) and serious fraud investigation office (SFIO), ministry of corporate affairs.
In a communication to the Bombay Stock Exchange, company vice chairman B Teja Raju has said the officials are inspecting the books of accounts of the company under section 209 A of the Companies Act, 1956. During the course of inspection, the officials have sought for certain information and documents relating to the last eight financial years. Since the project operations of the company are located at various places across India and it will take significant time to compile financial information and the same has not taken place as the accounts department of the company are totally engaged in assisting and providing information to the multiple government agencies that are conducting inspection of the books of accounts.
?The accounts team members have been fully occupied for the last over two weeks, in compiling the required information, which is quite huge in content and to be provided in different formats. Hence, the company is not able to close accounts and compile financial statements for the quarter ended December 31, 2008 to obtain the limited review report from the auditors on or before January 31, 2009, as stipulated,? he had said.