Court Allows Write-Off of Unrecoverable Loans Under BIFR Sanctioned Scheme for New Management's Financial Clarity.

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....Disallowance of writing off loans and advances - As per the scheme sanctioned by the BIFR - Only those assets and liabilities were shown, which were recoverable and payable respectively by the new management and loans and advances which are not recoverable were written off in the line of the sanctioned scheme - claim allowed - AT....