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bank overdraft

This query is : Resolved 
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(Querist)
18 August 2009 Can I take bank overdraft in secured loan head if bank O/D is hypothecated against collateral or other any assets.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
18 August 2009 Yes, You can.
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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
18 August 2009 No it is Current Liability U can not Do that. E.G. cash credit is also secured but u can not take as a secure loan
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