13 July, 2015
Pursuant to the circular dated February 26, 2014, banks are now to spread the shortfall (difference between the sale value and net book value) arising as a result of early sale of non-performing assets (NPAs), over a period of 2 years. Previously this facility was only available for assets sold upto March 31, 2015. Pursuant tothe circular dated May 21, 2015, this dispensation has been extended for assets sold on or after March 31, 2015 upto March 31, 2016.
For further information, please contact:
Abhishek Saxena, Partner, Phoenix Legal
abhishek.saxena@phoenixlegal.in
