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Revised schedule vi

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19 June 2013 The (Revised) Schedule VI requires to disclose the default in repayment of loans to banks/FI continuing on B/s date in case of Long-term & Short-term debts. What is to be understood as "default" here? Whether a minor delay of 5-7 days in payment of EMI due on B/s date should be disclosed? Please explain the clear meaning of "Default" in this context.
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sudarshan

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sudarshan (Expert)
20 June 2013 if there is delay on balance sheet date , it should be disclosed. Delay is when payment not made on due date.
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