hello
I have this query from a NBFC perspective
when we receive a repayment from the account which is already written off (D6+ for example as per our company policy)
and because of the repayment, actually his bucket can be D0, can this case be reinstated?
or
do we need to continue as recovery from written off assets?
please help
thanks
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Recovery from written off assets
Replies (1)
Do not automatically reinstate the account or move it to a D0 bucket. The repayment must be accounted for as "Recovery from Written-Off Assets" (credited to the P&L account). Reinstating a written-off asset back into active books is non-standard and should only be done if backed by a formal board-approved restructuring policy or loan re-activation framework.
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