RED HERRING PROSPECTUS Dated August 24 ... - Globus Spirits

STATEMENT OF TAX BENEFITS
TAX BENEFITS TO THE COMPANY AND ITS SHAREHOLDERS
The Company has been advised by M/s B.M. Chatrath & Co., Statutory Auditors of the Company,
vide their letter dated that under the current provisions of the Income Tax Act, 1961 and the
existing laws for the time being in force, the following benefits, inter alia, will be available to the
Company and the Members. However, the investor is advised to consider, in his/her own case,
the tax implications of an investment in the shares from time to time. The statement of tax
benefits certificate from the Tax Auditors of the Company is reproduced below:
To
The Board of Directors
M/s Globus Spirits Limited
(formerly Globus Agronics Limited)
C-631, New Friends colony,
New Delhi-110065
Dear Sirs,
We hereby report that the enclosed annexure states the possible tax benefits available to Globus
Spirits Limited (“The Company”) and its Shareholders under the tax laws currently in force in
India. Several of these benefits are dependent on the Company or its shareholders fulfilling the
conditions prescribed under the relevant tax laws. Hence, the ability of the Company or its
Shareholders to derive tax benefits is dependent upon fulfilling such conditions, which based on
business imperatives the Company faces in the future, the Company may or may not choose to
fulfil.
The benefits discussed below are not exhaustive. This statement is only intended to provide
general information to the investors and is neither designed nor intended to be a substitute for
professional tax advice. In view of the individual nature of tax consequences and the changing
tax laws, each investor is advised to consult his or her own tax consultant with respect to the
specific tax implications arising out of their participation in the issue.
We do not express any opinion or provide any assurance as to whether:
• The Company or its shareholders will continue to obtain these benefits in future; or
• The conditions prescribed for availing the benefits have been / would be met with.
The contents of this annexure are based on information, explanations, and representations
received from the Company and on the basis of our understanding of the business activities and
operations of the Company.
For B.M. Chatrath & Co.
Chartered Accountants
(UMESH C. PANDEY)
Partner
Membership No. : 55252
Place: New Delhi
Date : 01.08.2009
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