Meaning of word loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2014
Dear All,
as If for all the compliances of CA, 2013 i. e., Secretarial Audit, Independent Director, Audit Committee in all conditions there is limit given that
A unlisted public Company shall have to comply above if it has outstanding loan, deposit,debenture exceed 50 crore or more.
Please guide me what is the definition of Loan here. are they long term loans? or is Working capital Loan or Short Term Loan is also included?
Thanks in advance.
Regards
as If for all the compliances of CA, 2013 i. e., Secretarial Audit, Independent Director, Audit Committee in all conditions there is limit given that
A unlisted public Company shall have to comply above if it has outstanding loan, deposit,debenture exceed 50 crore or more.
Please guide me what is the definition of Loan here. are they long term loans? or is Working capital Loan or Short Term Loan is also included?
Thanks in advance.
Regards
12 August 2014
For want of definition in the act as well as in Companies (Specification of Definitions Details)Rules,2014 can be interpreted as TERM LOAN following "ejusdem generis rule".
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