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Applicability of schedule iii

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(Querist)
05 February 2016 Shall be disclosed 'Interest accrued but not due' under sub head of secured loan as per new companies act? . As per schedule VI of companies act 1956, it should not be shown under the sub head of secured loan
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
06 February 2016 'Interest accrued but not due on borrowings' should be classified under 'other current liabilities' as per schedule III.

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