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Note for Lien

This query is : Resolved 
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(Querist)
31 August 2023 If any statutory body instructed bank to create a lien for any transaction and the same was not removed in the date of signing of audited financial what will be the discloser note . Should we considered as temporarily impairment to the extent of lien amount or to disclose as temporarily restricted to the extent of lien amount.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
31 August 2023 Disclose it as contingent liability in notes on accounts.
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