Definition of Non-performing asset:
Designating or relating to a person affiliated with the arts but not involved in public performance. Also: denoting an art such as painting, sculpture, etc., which does not normally involve public performance by the artist.
Lease or loan where the (1) lessee or borrower is not making timely payments, (2) payments are no longer anticipated or, (3) maturity date has passed without fulfillment of the agreement. In such cases, the lessor or lender may allow some time (typically not exceeding 90 days) before asking for additional collateral, demanding the full payment of the balance, or taking repossession or foreclosure action.
Of, relating to, or denoting an asset that is not producing the anticipated or contractually due income; especially denoting a loan whose borrower has defaulted on repayments. Frequently in non-performing asset, non-performing loan.
That is guilty of failing to fulfil a promise, contract, obligation, etc.
Meaning of Non-performing asset & Non-performing asset Definition