SECURED LOANS
Loans borrowed by the company, secured wholly or partly , against the assets of the company are secured loans.
Secured Loans are classified as below;
A. Debentures
B. Loans and Advances from Banks
C. Loans and Advances from Subsidiaries
D. Other Loans and Advances.
Important Note:-
a) In case of debentures, the terms of redemption or conversion, if any, should be specified together with the earliest date of redemption or conversion
b) Nature of security should be specified
c) Interest accrued and due on secured loans should be included under the appropriate sub head under secured loans.
d) Loans taken from directors and managers should be shown separately.
e) If the loans are guaranteed by director or manager, it is required to mention the guarantee and the amount of loan under each head.
Loans borrowed by the company, secured wholly or partly , against the assets of the company are secured loans.
Secured Loans are classified as below;
A. Debentures
B. Loans and Advances from Banks
C. Loans and Advances from Subsidiaries
D. Other Loans and Advances.
Important Note:-
a) In case of debentures, the terms of redemption or conversion, if any, should be specified together with the earliest date of redemption or conversion
b) Nature of security should be specified
c) Interest accrued and due on secured loans should be included under the appropriate sub head under secured loans.
d) Loans taken from directors and managers should be shown separately.
e) If the loans are guaranteed by director or manager, it is required to mention the guarantee and the amount of loan under each head.