01 July 2024
Company A Private Limited had an NPA loan in FY 23-24 for which the Bank gave OTS (one-time settlement) time limit of which was supposed to end in April 2024, but the company paid a 50% portion in FY 23-24 and took extension of 90 days and paid entire loan in the month of June 2024, i.e. FY 24-25. The loan amount was Rs.5 crores, settled at Rs.4 crores. How to deal with this as per AS 4 Event occurred after the balance sheet date.
01 July 2024
OTS came in on 25th October 2023 for an NPA loan, which was eligible for 180 days ending on 24th April 2024, but the company took an extension for 90 days, i.e. Till 22nd June 2024, and settled the loan on 20th June 2024. The total outstanding loan was Rs.5.03 crores, out of which Rs.3.60 crores settled in FY 23-24 itself, and the balance of Rs.50 lakhs was paid on 20th June 2024 after the balance sheet date but before signing the balance sheet. How to deal with this situation according to AS-4 Event occurred after the balance sheet. Balance is a loan waiver
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