22 June 2010
In caro it is asked in clause (iii) that whether the company is regular in repayment of interest and principal or not ? In such a case what is to be reported if the repayment terms have not been decided and no repayment was done during the year even though interest payment is regularly made.
22 June 2010
You can put the matter as follows: "According to the explanations given to us the the company is regular in repayment of Interest on loan however repayment of principal amount of loan has not yet made by the company".
Regarding Finalization of Instalment amount for Loan repayment you should discuss the matter with the management as well as the Auditor signing the Balance sheet.
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