clause xi of caro
This query is : Resolved
16 May 2009
One of my client is a Ltd. O. My question is in CARO
1)Clause No. (xi) ; Company has taken CC from IDBI . Whether it is to be mentioned in this clause as IDBI is a bank and not financial institution.
1)Clause No. (xi) ; Company has taken CC from IDBI . Whether it is to be mentioned in this clause as IDBI is a bank and not financial institution.
16 May 2009
Yes, because clause xi reads as follows. 'whether the company has defaulted in repayment of dues to a financial institution or BANK or debenture holders'.
17 May 2009
Agree with Mr. Warrier.
If u have defaulted in repayment then this clause is applicable.
If u have defaulted in repayment then this clause is applicable.
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