SIR IN CLAUSE 8 OF CARO 2016 IF DEFAULT IN RESPECT OF BANKS AND FIS ( PRINCIPAL AMOUNT COVERED ) AND IN RESPECT OF DEFAULT IN REPAYMENT OF DEBANTURE HOLDERS ( BOTH PRINCIPAL AND INTEREST IS COVERED) AM I RIGHT?

1 answer

Ravi Staff February 23, 2017

Yes ashish interpretation is proper.
Clause 8
Whether the company has defaulted in “repayment” (means only principal) of loans or borrowing to a financial institution, bank, Government or “dues” (means both principal & interest) to debenture holders? If yes, the period and the amount of default to be reported (in case of defaults to banks, financial institutions, and Government, lender wise details to be provided).

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