Form 23 ac

Dear Rani,

Unsecured loan given by director to Company, will come under the head, long term borrowings  (unsecured), that amount will again be shown in Aggregate mount guaranted by director.

it should be under the head long term borrowings

It will come under long term borrowings(unsecured) and not guarnteed by director as the director has not given any guarantee or security for loan taken by company from any other person/corporate.

Others views are solicited.

thanks 4 ur replies ........... but i want to knw that whether it will come under 

Loans and advances from related parties or amount guaranteed by directors .......... under the head deatiled items of Balance sheet under Long term borrowings.............

Only loans and advances from related parties under the main head of long term borrowings(unsecured).

It is niether term loan from bank or financial institution nor personal loans which is GUARRENTED BY DIRECTORES.

So only Loans and advances from related parties,its not guarenteed.

Many a times you read in sanction letter of loan the wordings that "also secured by the personal guarntee of the directors".