Dear All,
Kindly clarify:
Pursuant to Proviso of sub- sec. (1) (c) of Sec. 180, temporary loan received from the Company's Banker are exempted from the purview of Borrowing.
Thus the loan availed/borrowing made by a Company from other Company for less than 6 months/ loan repayable on demand will be considered as temporary Loan and exempted from the provision of the Sec. 180(1)(c)?????
Regards
Dipika
CAclubindia
