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Golden Legand Leasing and Finance Ltd. has approved a loan write-off worth ₹130.3 million, signaling a strategic clean-up of its balance sheet. The move aims to strengthen financial discipline, reduce non-performing assets, and enhance transparency for stakeholders, as the company continues to navigate India’s evolving non-banking finance sector.
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Golden Legand Leasing and Finance Ltd. (GLDL), a non-banking financial company (NBFC), announced that its board has approved a loan write-off of ₹130.3 million. The decision reflects the firm’s commitment to prudent financial management and its focus on improving asset quality amid challenging credit market conditions.
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Key Highlights:
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Loan Write-Off: ₹130.3 million approved to address non-performing assets.
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Strategic Intent: Aimed at strengthening the company’s balance sheet and improving financial transparency.
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Sector Context: NBFCs continue to face pressure from rising defaults and tighter regulatory oversight.
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Investor Impact: The move is expected to reassure stakeholders about GLDL’s proactive risk management approach.
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Future Outlook: The company is likely to focus on sustainable lending practices and portfolio diversification to mitigate future risks.
This write-off underscores GLDL’s effort to maintain financial resilience while aligning with industry wide trends of asset quality improvement. It also highlights the broader challenges faced by NBFCs in balancing growth with risk management.
Sources: Reuters, Business Standard, Moneycontrol
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