Can a loss Asset be reclassified as D1 or D2 category asset?????
Darshan Thakkar (Article Student) (100 Points)
06 May 2013Can a loss Asset be reclassified as D1 or D2 category asset?????
Mohammad Asif
(chartered accountant)
(191 Points)
Replied 31 May 2013
NO IT CANNOT BE CLASSIFIED AS D1 OR D2
Vishal
(Student CA IPC / IPCC)
(21 Points)
Replied 08 June 2013
Loss asset can be classified as standard asset (But not as D1 or D2) provided all the overdue amount is recovered from the borrower and there is no irregular amount. Important requirement for upgrading the account is recovery of all overdue money. Bank cannot classify the loan as standard even if it write off or waive off the irregular amount. So, recovery of money is necessary
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