Board Meeting Details
The Board of Directors meeting was held on Wednesday, May 27, 2026, from 03:00 P.M. to 03:30 P.M.
Write-Off Details
The board approved the write-off of three specific items totaling ₹1,19,68,958/-:
- Receivable from Aris Capital Pvt. Ltd.: ₹1,08,18,958/- against amount receivable with respect to portfolio sale dated August 16, 2018
- Compounding Fee deposited with Customs Department: ₹10,00,000/- relating to old, disposed cases
- Deposit with Court: ₹1,50,000/- relating to old, disposed cases
Rationale for Write-Offs
The write-offs were undertaken after considering:
- Accounting position
- Recoverability status
- Prudence requirements applicable to the Company
Specific reasons for each write-off:
- Receivable from Aris Capital Pvt. Ltd. considered doubtful and non-recoverable due to prolonged outstanding status
- Deposits with Customs Department and Court represent old balances assessed as non-recoverable by management
Financial Impact
The write-offs will have a one-time impact on profitability of ₹1,19,68,958/- for the relevant financial period. The disclosure explicitly states this will not have any material impact on the operations or liquidity of the Company.
Accounting Treatment
The write-off will be reflected in the financial statements of the Company for the relevant financial period in accordance with applicable accounting standards.