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Bifurcation of emi purchased item schedule- iii, co act
Dear Experts,
There are certain asset taken on EMI and financer has made the full payment, so we have to pay them, can we bifurgate such amount to short term borrowing under Schedule- iii of company act.
Please suggest.
Replies (4)
Ofcourse it would be classified into Borrowrings and name of the financer will be there in the Balance Sheet. As we does in case of Vehicle Finance case.
but i have not taken any loan, to classfy the same into short term borrwoing, amount is directly paid by financer to purchaser and now i am paying amount to financer
It is the Loan taken by you from the Financer. It is the case simillar to the Auto Finance.
ok. thank u
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