Accounting Treatment of Forfeited loan

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Accounting Treatment of Forfeited loan

aaamer123
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04-12-2006, 08:30 PM

Assume a company apply for short term RF from the bank.Bank facilitates the company Rs.10,000,000 loan against Pledge of Rs.20,000,000 Share Capital.Later on when company has availed the loan is forfeited by the order of the court at that time what would be the accounting treatment of this situation in the both books(In bank& Company).

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Accounting Treatment of Forfeited loan - by aaamer123 - 04-12-2006, 08:30 PM

[No subject] - by Ali Akbar - 04-13-2006, 04:15 AM