Lok Housing is on lower circuit at Rs 24.35 today on the BSE on news that it is facing an Income Tax Liability of Rs 100 crs on Income that was not disclosed
On July 7,2008,I had blogged on Lok Housing crashing from Rs 400 to Rs 44 inside six months querying as below
“What’s happening ? With such a performance why has Lok Housing dropped from Rs 400 in Jan this year to Rs 44 today…is there a significant legal issue, inflated asset or liability non provision we don’t know about ?”
Yes there was and now we know what it was…Why did we not know this before? why do Shareholders and Investors have to keep on guessing what is happening in a Company !?…There are mechanisms for immediate and timely disclosures like Listing Agreements.Also Auditing and Accounting Standards and Corporate Governance have to be adhered to in the Annual Report,for disclosure of such significant and sensitive developments…Why are such Mechanisms proving inadquate ? Are they not being followed or implemented properly or do they need strengthening ?
2 thoughts on “Lok Housing now faces Rs 100 crs Income Tax Liability on undisclosed Income”
Where did you get your blog layout from? I’d like to get one like it for my blog.
Hi Mike….glad you like the design,look and format of my blog…I have had several people inquiring about how to go about this…I have had it customised to the extent possible at a value for money cost…I shall communicate with you through email on how I can be able to help you too to do so
Thanks for visting my blog….I find you are doing your CPA…All the Best…I did my ACCA from England years ago and my wife did her Chartered Accountancy here in India.She’s an FCA but does not practice now….Concentrates on her Business of Web Developement and Multimedia Presentations…so her team and she are my Inhouse Experts and Value for Money for all this !
They could certainly help you make your blog lively in format and design…you could get in touch with me too at [email protected] or [email protected]