Explain the disclosure requirement as per Schedule III of the Companies Act, 2013 with respect to "Short-term Borrowings".

Following are the disclosure requirements of short term borrowings as per the Companies Act, 2013: Short-term borrowings shall be classified as: Loans repayable on demand from banks from other parties Loans and advances from subsidiaries/holding company/associates/business ventures Deposits Other loans and advances (specify nature) Borrowings shall further be sub-classified as secured and unsecured. Nature of security shall be specified separately in each case. Where loans have been guaranteed by directors or others, a mention thereof shall be made and also the aggregate amount of loans under each head. Period and amount of default in repayment of dues, providing break-up of principal and interest shall be specified separately in each case.