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Form 23 ac

rani (ARTICLE) (70 Points)

19 October 2012

The amount of unsecured loan taken by company from directors should come under loans and advances from realted parties under the head long term borrowings or aggregrate amount guaranteed by directors.......... pl. help......

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5 Replies

CS Iti Goyal (company secretary) (56 Points)
Replied 20 October 2012

Dear Rani,

Unsecured loan given by director to Company, will come under the head, long term borrowings (unsecured), that amount will again be shown in Aggregate mount guaranted by director.

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Deepti Aggarwal (Assistant Company Secretary) (143 Points)
Replied 20 October 2012

it should be under the head long term borrowings

Siddharth Singh (CS) (30 Points)
Replied 20 October 2012

It will come under long term borrowings(unsecured) and not guarnteed by director as the director has not given any guarantee or security for loan taken by company from any other person/corporate.

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rani (ARTICLE) (70 Points)
Replied 20 October 2012

thanks 4 ur replies ........... but i want to knw that whether it will come under

Loans and advances from related parties or amount guaranteed by directors .......... under the head deatiled items of Balance sheet under Long term borrowings.............