Non performing asset from borrower's point of view

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Apurva Avinash Apte (Querist)
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27 November 2015 Sir / Madam,

A Loan account / CC of a Private Limited Company (Borrower) has been declared as NPA by the Bank in July 2014.

Bank has also reversed the interest charged on Borrowings for first 3 months i.e. from April to June 14.

My questions are from point of view of borrower:

1. What accounting treatment shall be given by the borrower in his books of accounts?

2. How to show this account in Schedule III?

3. What are the other required disclosures in the Balance Sheet?

Thanking you in anticipation.

Apurva Avinash Apte

Apurva Avinash Apte (Querist)
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27 November 2015 Kindly answer the query.

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