AS 19 LEASES

This query is : Resolved

Natesh (Querist)
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29 April 2008 CLARIFICATION REQUIRED REGARDING COMPANY HAS HYPOTHECATED THE VEHICLE AND LOAN HAVE BEEN TAKEN AND MONTHLY REPAYMENT HAVE BEEN REGULARLY DEPOSITED

MY QUERY IS WHETHER DISCLOSURE IS REQUIRED TO BE MADE IN ACCOUNTING STANDARD OF LEASES OR WHETHER IT IS NOT APPLICABLE

CA. Yayati Tyagi

CA. Yayati Tyagi (Expert)
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30 April 2008 I think there is no need to disclose under "Lease" as the nature of transaction does not look like a lease, it is a loan against hypothecation.

General disclosure into Notes to accounts about hypothecation should be enough.

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