Term Loan

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jitesh (Querist)
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15 December 2010 One can Please help me that what are the things to be check in term Loans

Pl It should be Exper Advice

Aditya Maheshwari

Aditya Maheshwari (Expert)
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15 December 2010 1 If the company has obtained any term loans during the year or earlier year, obtain a list of loans and the purpose for which obtained as per the sanctions letter.

2 Verify that the loans are applied for the purpose for which they were obtained.

3 If any of the loan still remains to be applied; Whether the same has been kept separately in bank for future application?

4 Obtain confirmation from company that it shall be applied for the same purpose for which they have obtained.

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