Classification of sundry creditor under litigation for more than 5 yrs as current/non current liab.
This query is : Resolved
11 April 2025
A Pvt. Ltd company has a sundry creditor balance of Rs.186.00 lakh under sundry creditor head for a single party and has classified the particular entry as non-current as the entry is outstanding for more than 5 years and under dispute between both the parties and matter is in the court.
Kindly clarify as the entry can be classified as non-current liability?
Kindly clarify as the entry can be classified as non-current liability?
11 April 2025
No, it will remain under current assists only till final order/settlement.
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