Bright Finance Ltd. is a non-banking financial company. It provides you with the following information regarding...
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Bright Finance Ltd. is a non-banking financial company. It provides you with the following information regarding its outstanding amount, 200 lakhs of which installments are overdue on 200 accounts for last one month (amount overdue *40 lakhs), on 24 accounts for two months (amount overdue 24 lakhs), on 10 accounts for more than 30 months (amount overdue 20 lakhs) and on 4 accounts for more than two years (amount over due 20 lakhs-already identified as sub- standard assets) and one account of 10 lakhs which has been identified as non-recoverable by the management. Out of 10 accounts overdue for more than 30 months, 6 accounts are already identified as sub-standard (amount *6 lakhs) for more than twelve months and other are identified as sub-standard asset for a period of less than twelve months. Classify the assets of the company in line with Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016. Bright Finance Ltd. is a non-banking financial company. It provides you with the following information regarding its outstanding amount, 200 lakhs of which installments are overdue on 200 accounts for last one month (amount overdue *40 lakhs), on 24 accounts for two months (amount overdue 24 lakhs), on 10 accounts for more than 30 months (amount overdue 20 lakhs) and on 4 accounts for more than two years (amount over due 20 lakhs-already identified as sub- standard assets) and one account of 10 lakhs which has been identified as non-recoverable by the management. Out of 10 accounts overdue for more than 30 months, 6 accounts are already identified as sub-standard (amount *6 lakhs) for more than twelve months and other are identified as sub-standard asset for a period of less than twelve months. Classify the assets of the company in line with Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016.
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Nonperforming assets overdue for more than 90 days 200 accounts overdue for 1 month 200 lakhs ... View the full answer
Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
Posted Date:
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