Secured or Unsecured Loan

This query is : Resolved

Akalesh S Rawat (Querist)
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19 January 2009 Requested you please guide me on below mentioned query.

If a Ltd. company has some loan from bank which is secure by the director property (as a guarantor of the said loan) will be classified as secure loan or it will be treated as unsecured loan for company to show the figure in Balance sheet. Please put your suggestion keeping in mind Company act requirement

Regards,
CA Akalesh S Rawat

K V Subba Rao

K V Subba Rao (Expert)
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19 January 2009 Secured Loans-Please visit the following:

http://www.thehindubusinessline.com/mentor/2007/05/21/stories/2007052100501200.htm

http://www.moneycontrol.com/stocks/company_info/notestoaccount.php?sc_did=HCM