https://www.taxtmi.com/forum/issue?id=107438 Plant and machinery are generally immovable and cannot be hypothecated; such fixed assets must be secured by mortgage while only movable assets may be hypothecated. If prior balance sheet notes mistakenly described plant and machinery as hypothecated, management should correct the current year disclosure by stating the earlier description was an error and has been rectified, and ensure future notes reflect the actual form of security for each asset class. en-us Mon, 06 Oct 2014 15:58:54 +0530 Thu, 23 Jan 2025 15:57:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=107438 Plant and machinery are generally immovable and cannot be hypothecated; such fixed assets must be secured by mortgage while only movable assets may be hypothecated. If prior balance sheet notes mistakenly described plant and machinery as hypothecated, management should correct the current year disclosure by stating the earlier description was an error and has been rectified, and ensure future notes reflect the actual form of security for each asset class. Discussion-Forum Companies Law Mon, 06 Oct 2014 15:58:54 +0530 https://www.taxtmi.com/forum/issue?id=107438