Short Term Borrowings from Banks
This query is : Resolved
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?
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
(Expert)
18 January 2010
It will be a part of secured loans only
Aditya Maheshwari
(Expert)
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.
(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
(Expert)
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
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
(Expert)
18 January 2010
Read schedule VI for further disclosure
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