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bank overdraft account

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(Querist)
26 September 2008 Under which head will we enter secured bank overdraft - secured loan or current liabilities?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
26 September 2008 Secured loan.
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Manjunath KS

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Manjunath KS (Expert)
26 September 2008 It depends on the purpose for which loan availed. If it is Working capital is it not current liability?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
26 September 2008 No. In the case of companies availing secured loans there is a specific requirement to show the secured loan only under that category as per companies Act
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
26 September 2008 Yes, It will be shown as a Secured Loan

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