An entity holds an investment in equity shares classified as fair value through other comprehensive income (FVTOCI) under Ind AS 109. During the year, the fair value declined by ₹20 lakhs and the entity impaired the investment by ₹15 lakhs due to credit risk. How should the impairment loss be recognised?

• AEntire ₹15 lakhs as a reclassification adjustment from OCI to profit or loss.
• B₹15 lakhs in profit or loss (not recycled from OCI).
• C₹15 lakhs in OCI and ₹5 lakhs in profit or loss.
• D₹15 lakhs reversed against the fair value decline, net effect ₹5 lakhs in OCI.