afreen shaikh (143 Points)25 June 2016
CA Gyati Gupta
Replied 25 June 2016
The loan should be disbursed in the borrower bank account and the proceeds from such loan should be applied towards the required purpose i.e. the transaction should be routed in such a way that the bank account should reflect the correct application of funds. The funds should be disbursed to say the supplier of material (in case of cc), or to the supplier of palnt and machinery (in case of Term Loan Facility) etc.
2 Days Certification Course on Advance Excel with Chat GPT and AI
2 Days Certification Course on Chat GPT and AI Tools for Professionals