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clause ( XI) of CARO

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(Querist)
14 May 2009 One of my client is a Ltd. O. My question is in CARO

1)Clause No. (xi) ; Company has taken CC from IDBI . Whether it is to be mentioned in this clause as IDBI is a bank and not financial institution.
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Radheyshyam Falod

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Radheyshyam Falod (Expert)
09 June 2009 Clause XVI states that "Whether the term loans were applied for the purpose for which the loans were obtained"

Nowhere it is mentioned that it should be from bank or a financial institution.

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