excellent
Very Intersting : Don't Miss it.....
Page no : 2
$rik@nth
(student)
(222 Points)
Replied 04 September 2009
but i dont believe such a rich person is not having parking place
one more thing is if we offer a moveable property as security, that property will be hypothecated and only the documents wil be kept by the bankers
mohit
(article)
(51 Points)
Replied 04 September 2009
No Gaurav dats not right even in india many richest persons dont have parking for there car............
Mohit Joshi
(01)
(89 Points)
Replied 04 September 2009
i also heard this story in bhagwan lal sir account class...........
Dharmender Kumar Kaushik
(manger- taxation)
(22 Points)
Replied 04 September 2009
| Originally posted by :ANKIT BANSAL | ||
| " | NOT A STORY BUT A TRUE INCIDENT An Indian man walks into a bank in New York City and asks for the loan officer. He tells the loan officer that he is going to India on business for two weeks and needs to borrow $5,000. The bank officer tells him that the bank will need some form of security for the loan, so the Indian man hands over the keys and documents of new Ferrari parked on the street in front of the bank. He produces the title and everything checks out. The loan officer agrees to accept the car as collateral for the loan. The bank's president and its officers all enjoy a good laugh at the Indian for using a $250,000 Ferrari as collateral against a $5,000 loan. An employee of the bank then drives the Ferrari into the bank's underground garage and parks it there. Two weeks later, the Indian returns, repays the $5,000 and the interest, which comes to $15.41. The loan officer says, "Sir, we are very happy to have had your business, and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and found that you are a multi millionaire. What puzzles us is, why would you bother to borrow "$5,000" ? The Indian replies: "Where else in New York City can I park my car for two weeks for only $15.41 and expect it to be there when I return'" Ah, the mind of the Indian... This is why India is shining ----------------------------------------------------------------------------------------------- Reminder IF U Like this FORUM then do not forget to thank me by clicking on thump up icon below my image bye PLEASE REVERT BACK WITH UR VIEWS |
" |
raj
(stu)
(38 Points)
Replied 04 September 2009
By the way, the businessman was none other than a gujarati.
Recent Topics
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
Related Threads
CAclubindia
