Geetanjali Credit and Capital Ltd — Board Meeting, 22-05-2025: Board Meeting

Geetanjali Credit and Capital Limited has announced a board meeting to approve the financial results for the quarter and year ended March 31, 2025. The company reported a net loss of Rs. 3.44 lakhs for the year, against a marginal profit of Rs. 0.09 lakhs the previous year. Total income remained at Rs. 0.86 lakhs. The company carries long-outstanding loans and advances of Rs. 256.27 lakhs without confirmation from borrowers and has not followed RBI’s NPA norms for provisioning, raising concerns over recoverability. Additionally, there is an unresolved income tax demand of Rs. 529.75 lakhs with no supporting appeal documentation. Management is actively pursuing recovery of loans and appeal against tax demand.