Lower Deduction certificate

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PINTU (Querist)
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31 January 2011 Hi friends

I had a lower deduction cerficate having a CREDIT LIMIT OF Rs. 2.5 CRORE and in which it is stated that "THE CERTIFIACTE SHALL BE VALID FOR THE FINANCIAL YEAR 2010-11 AND SHALL BE REMAIN IN FORCE FRO 05-MAY-2010 TO 31-MARCH-2011 UNLESS IT IS CANCELLED BY ME UNDER INTIMATION TO YOU BEFORE THAT DATE"

My question is that whether the specified credit limit will be consider from 01-Apr-10 to 31-March-2011 or from 05-May-10 to 31-March-2011

Waiting for reply.

B. Gopalkrishna Baliga

B. Gopalkrishna Baliga (Expert)
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31 January 2011 It will be effective from 5th may 2010 to 31st march 2011 as it is clearly stated so in the certificate.

Guest

Guest (Expert)

31 January 2011 Agree with Mr. Baliga as financial year has been narrowed by subsequent restriction.