Problem on as
This query is : Resolved
28 October 2011
X ltd has taken a loan from SBI ,its bankers PNB given guarantee to SBI on its behalf . X ltd mortgaged its assets to PNB .x ltd has disclosed this loan in its balance sheet as unsecured loan on the ground that no security has been given to the lender SBI bank. Is the disclosure sufficient??
(FROM ICAI STUDY MATERIAL)
(FROM ICAI STUDY MATERIAL)
29 October 2011
Dear Raman,
No need to highlight the fact separately since the loan is taken against the bank guarantee and shown as Unsecured Loan. However Bank guarantee from PNB should be shown as contingent liability.
No need to highlight the fact separately since the loan is taken against the bank guarantee and shown as Unsecured Loan. However Bank guarantee from PNB should be shown as contingent liability.
Message likes :
1 times
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?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- 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
Trending Online Classes
CAclubindia
