Cash Credit Limit
This query is : Resolved
14 March 2009
A Pvt. Ltd. Co. has three C/C Limits. All these are to be shown in the final balance sheet. Is there going to be any problem due to more than one C/C Limit? If yes, please tell about that.
Further, If the company increases its C/c Limit, then it has to modify the charge already created or nothing is to be done with regard to increase in C/C Limit.
Please guide me as it is very urgent.
Further, If the company increases its C/c Limit, then it has to modify the charge already created or nothing is to be done with regard to increase in C/C Limit.
Please guide me as it is very urgent.
14 March 2009
There is no problem with the more than One CC Limits.
14 March 2009
If the three limits are on the same assets with different bankers,according to me, it is not a healthy practice of the company. If the situation is so the auditors has to comment upon that in the notes as well as in the audit report.
In situations other than what is mentioned above I don't see any harm in having three c/c limits.
Second para of the query is o.k.
In situations other than what is mentioned above I don't see any harm in having three c/c limits.
Second para of the query is o.k.
14 March 2009
Thanks for the answer sir.
The reply of the IInd part of the query is not clear i.e. in an increase in C/C Limit, one has to modify the charge or not. Please reply again.
Thanks a lot
The reply of the IInd part of the query is not clear i.e. in an increase in C/C Limit, one has to modify the charge or not. Please reply again.
Thanks a lot
14 March 2009
Yes. Charge is to be modified.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
