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seured or unsceured loan

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(Querist)
09 March 2010 Dear sir,


Some one told me that vehicle loan taken from bank suhould be shown under the HEAD UNSECURED LOAN NOT UNDER SECURED LOAN AS PER SCHEDULE VI IN THE COMAPNY BALANCE SHEET

PLS LET ME KNOW WHAT IS CORRECT
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CA PRIKSHIT GUPTA

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CA PRIKSHIT GUPTA (Expert)
09 March 2010 Bank gives vehicle loan against the security of vehicle. so, it is fully secured. so it should be shown under secured loan
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CA RATAN JHA

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CA RATAN JHA (Expert)
09 March 2010 its better clarified from clause of loan aggrement. but generally its secured against vehicle only..
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
09 March 2010 AGREE. IT SHOULD BE SHOWN AS SECURED LOAN.

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