Write-Off Policy

SONU MARKETING PRIVATE LIMITED (Trade Name: Brahma Finance)

SONU MARKETING PRIVATE LIMITED (Trade Name: Brahma Finance), a Non-Banking Financial Company (NBFC) committed to transparency, accountability, and prudent financial management, hereby establishes this Write-Off Policy to outline the procedures and criteria for writing off irrecoverable loans and advances.

Objective

The primary objective of this Write-Off Policy is to provide a structured and consistent approach to identify, assess, and write off irrecoverable loans, ensuring adherence to regulatory guidelines and prudent risk management practices.

Definitions

Write-Off

The formal acknowledgment that a loan or advance is unlikely to be recovered in full, leading to its removal from the company's active receivables.

Irrecoverable

A loan or advance is considered irrecoverable when all reasonable efforts to recover the outstanding amount have been exhausted without success.

Financial Products and Services

SONU MARKETING PRIVATE LIMITED (Trade Name: Brahma Finance) offers a range of financial products and services. The terms and conditions for each product or service will be provided separately. Please review the specific terms applicable to the product or service you are interested in.

Identification of Irrecoverable Loans

Credit Risk Assessment

A periodic credit risk assessment will be conducted to identify accounts with a high likelihood of default.
Parameters such as customer financial health, market conditions, and external economic factors will be considered.

Delinquency Analysis

Regular monitoring of delinquency trends to identify accounts with prolonged arrears.
Timely categorization of accounts as Non-Performing Assets (NPAs) in accordance with regulatory guidelines.

Write-Off Criteria

Small Ticket Loans

Loans with small outstanding balances that are deemed economically unviable to pursue for recovery may be considered for write-off.

Legal Impediments

Loans entangled in legal complexities or insurmountable challenges hindering recovery may be considered for write-off after due legal consultation.

Deceased Borrowers

Loans where the borrower is confirmed deceased, and no legal heirs or assets are identifiable.

Write-Off Process

Approval

The write-off decision requires approval from the designated authority, ensuring a thorough review of the case.

Accounting Treatment

The write-off amount will be treated as an expense in the financial statements, adhering to accounting standards.

Reporting

Timely reporting of write-offs to regulatory authorities and stakeholders as per the applicable guidelines.

Recovery Efforts Post Write-Off

Continued Recovery Efforts

Despite write-off, efforts will continue to recover the outstanding amounts through legal means or other feasible avenues.

Monitoring and Reporting

Regular monitoring and reporting on recovery progress post write-off will be conducted.

Review and Amendments

This Write-Off Policy will be subject to periodic review to align with changing regulatory requirements and industry best practices. Any amendments will be approved by the designated authority.

This Write-Off Policy is an integral part of SONU MARKETING PRIVATE LIMITED (Trade Name: Brahma Finance) commitment to sound financial management, risk mitigation, and responsible lending practices.

Thank you for choosing SONU MARKETING PRIVATE LIMITED (Trade Name: Brahma Finance)

NBFC Licence No

B.05.04069

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Hello@brahmafinance.in

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080-41536980