The Hindu, 31 Jan 2009
CHENNAI: Chola DBS Finance, a leading non-deposit taking and non-banking finance company (NBFC), has gone in for a major overhaul of its capital.
The revamp plan, approved by its board here on Friday, envisages the creation of a special one-time standard asset provision of Rs. 200 crore. It also provides for loan losses / write-offs to the extent of Rs. 100 crore. Besides these, it provides for the adjustment of impairment loss in investment of Rs. 23.53 crore in one of its subsidiary companies – DBS Cholamandalam Distribution Ltd.
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