Note for Lien
This query is : Resolved
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.
31 August 2023
Disclose it as contingent liability in notes on accounts.
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