Author : Anonymous
( Author )
15 June 2012
please guide me whether following are termed as related party and how transaction between them will be disclosed in balance?
a. Mr T is a director in XYZ Pvt Ltd & he is also a director in ABC Pvt Ltd whether transaction between ABC Pvt Ltd & XYZ Pvt Ltd will be termed as related party transaction? and how it should be disclosed?
b. if Mr T is director in XYZ Pvt Ltd but only a shareholder in ABC Pvt Ltd then transaction bet ABC & XYZ is related party transcation?
c. If Mr.T is director in XYZ Pvt Ltd & Mrs T is director in ABC Pvt Ltd? Then how transaction between two corporate will be disclosed, whether it will be termed as related party transcation?