CPT V24P7-Art1 (Content).pmd - Taxmann

Accounts & Audit
706
Principal Interest
(` crore)
Name of the bank Amount Due from Jan-Mar 12 Feb-Mar 12 Mar 12 Total
Axis Bank Ltd. 20.00 1-Feb-12 2.11 2.30 2.43 6.84
EXIM Bank 14.25 20-Mar-12 3.17 3.00 3.39 9.56
Canara Bank 60.00 22-Dec-11 4.21 3.95 4.27 12.43
State Bank of Travancore 7.50 26-Dec-11 0.17 0.15 0.17 0.49
State Bank of Travancore 7.50 26-Mar-12 - - - -
Bank of Maharashtra 6.25 26-Dec-11 0.33 0.30 0.33 0.96
Bank of Maharashtra 6.25 26-Mar-12 - - - -
Punjab National Bank 50.00 29-Dec-11 1.00 0.92 1.00 2.92
United Bank of India 100.00 30-Mar-12 2.62 2.47 2.68 7.77
CONCLUSION
6. Though a step in the right direction has
been taken by the Ministry of Corporate Affairs
by improving presentation aspects of financial
statements, get urgent steps need to be taken
to mandate the Accounting Standards on
August 1 to 15, 2012 u TAXMANN’S CORPORATE PROFESSIONALS TODAY u Vol. 24 u 86
Financial Instruments for companies in India.
Complex capital structures in a globalized
environment call for international best practices
in corporate reporting. India needs to take the
necessary steps urgently. The time to act is
now!
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