Cinevista Board to Consider 100% Provision on Investments
Cinevista Ltd has scheduled a Board of Directors meeting for September 22, 2026, to consider and approve a 100% provision for Expected Credit Losses (ECL) on loans/advances and a 100% impairment allowance on long-term equity investments. This action pertains to three subsidiaries/associates: Chimera Entertainment Private Limited, Heritage Productions Private Limited, and Cinevista Eagle Plus Media Private Limited. The company also plans to approve the write-off of long-term investments and outstanding loans/advances for Chimera Entertainment and Heritage Production, followed by their voluntary strike-off due to inactivity. The net worth of these subsidiaries is completely eroded, with nil/negligible realizable assets and no outstanding external liabilities.
Key Highlights
- Board meeting on Sep 22, 2026, to discuss financial provisions.
- 100% provision for ECL on loans and impairment on investments.
- Focus on three inactive subsidiaries: Chimera, Heritage, Cinevista Eagle.
- Write-off of investments and loans for two subsidiaries.
- Subsidiaries have eroded net worth and negligible assets.
Price Impact
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