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Awaiting price reaction for this filing.
The Board of Directors of Golden Legand Leasing & Finance Ltd, at its meeting held on January 22, 2026, approved the write-off of loans totalling ₹13,03,21,850 (approximately ₹13.03 crore). The decision was taken on the recommendation of the Audit Committee, which had reviewed the matter on December 16, 2025. The Audit Committee noted that prolonged recovery efforts had been unsuccessful and recovery was no longer expected from these loans. The write-off has been carried out in line with applicable accounting standards and reflected in the company's books of accounts. The Board meeting commenced at 5:30 PM and concluded at 6:05 PM.
For shareholders, this means a one-time hit of around ₹13 crore will be absorbed in the company's financials, reducing both assets and profits. While this signals bad loan cleanup and stronger future balance sheet, it will likely result in a reported loss for the relevant period and may weigh on the stock in the short term.