Board approves write-off of about Rs 2.39 Cr loans to subsidiary and associate
CINEVISTA · price
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Cinevista's Board has approved writing off outstanding loans and advances given to one subsidiary, Chimera Entertainment Pvt Ltd (Rs 1.65 Cr), and one associate, Heritage Productions Pvt Ltd (Rs 0.74 Cr), totalling about Rs 2.39 Cr. Both entities have had no revenue for 10 years, negative net worth, and are not expected to continue operations. The write-off is 9.96 percent of FY25-26 consolidated turnover, below the 10 percent threshold, so no shareholder approval is needed. Impact is on standalone financials only; consolidated numbers are unaffected as inter-company balances are already eliminated.
One-time standalone hit of Rs 2.39 Cr; no impact on consolidated earnings. Cleans up balance sheet of inactive entities.