GIC Housing Finance Limited — Board Meeting, 11-07-2025: Outcome of Board Meeting

CIC Housing Finance Ltd. has announced a board meeting on which it approved merging properties classified as Assets Held for Sale into the regular loan book from April 1, 2025, and discontinued fresh recognition of physically re-possessed assets as AHS. Provisioning for these assets will now follow the company’s Expected Credit Loss policy. Additionally, Shri Sanjay Joshi, with 35 years in the insurance sector and currently Chairman cum Managing Director of Oriental Insurance, has been appointed as an Additional Non-Executive Director, subject to shareholder approval at the upcoming AGM.