Short Term Borrowings from Banks

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SAMEER (Querist)
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16 January 2010 Dear Colleagues

What are the disclosure/classification requirement for "Short term Borrowings and current portion of long term debt received from Banks/FIs" in Balance sheet.

does this form part of Loan Funds?
if not what are the heads covered under Loan Funds> secured loans?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 January 2010 It will be a part of secured loans only

SAMEER

SAMEER (Querist)
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18 January 2010 I was expecting some logical answere

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 January 2010
(d) Short Term Loans will include those which are due for not more than one year as at the date of the balance-sheet.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 January 2010 Disclosure requirements for secured loans as per schedule VI
SECURED LOANS:
(1) Debentures
Terms of redemption or conversion (if any) of debentures issued to be stated together with earliest date of redemption or conversion.

(2) Loans and Advances from Banks.
(3) Loans and Advances from subsidiaries.
(4) Other Loans and Advances.

Loans from Directors, Manager should be shown separately.
Interest accrued and due on Secured Loans should be included under the appropriate sub-heads under the head "SECURED LOANS".
The nature of the security to be specified in each case.
Where loans have been guaranteed by managers and/or directors, a mention thereof shall also be made and the aggregate amount of such loans under each head

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 January 2010 Read schedule VI for further disclosure

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