Cinevista Board approves ₹2.39 Cr write-off for subsidiary & associate

Cinevista Limited's Board of Directors, acting on the Audit Committee's recommendation, has approved the write-off of outstanding loans and advances totaling ₹2,38,87,930. This amount includes ₹1,65,13,981 for its subsidiary, Chimera Entertainment Private Limited, and ₹73,73,949 for its associate, Heritage Productions Private Limited. The decision stems from these entities having no revenue for the past 10 years, fully eroded/negative net worth, and negligible assets, rendering their operations unsustainable. The write-off represents 9.96% of Cinevista's annual consolidated turnover for FY 25-26 (₹23.972 Cr), thus not requiring shareholder approval as it falls below the 10% threshold under Regulation 23. The write-off will impact standalone financials but have a NIL impact on consolidated financials due to inter-company loan elimination as per Ind AS 110.