As-18-related party transaction
This query is : Resolved
25 February 2012
Whether Sitting Fees Paid To The Non-Executive Directors are to be treated as a Related Party Transaction ???
If Yes, Then On What Basis ???
If Yes, Then On What Basis ???
25 February 2012
hello ravi
As per the para 3D OF AS18...Key management personnel and there relatives come under the ambit of related party transactions...so as per your query if the non executive director have the authority and responsibility for planning directing and controlling the the activities of the company ( which is commonly non executive director don't have ) any payment made to them including sitting fees would constitute related party transaction.
As per the para 3D OF AS18...Key management personnel and there relatives come under the ambit of related party transactions...so as per your query if the non executive director have the authority and responsibility for planning directing and controlling the the activities of the company ( which is commonly non executive director don't have ) any payment made to them including sitting fees would constitute related party transaction.
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26 February 2012
Thanks a lot sir !!!
03 April 2012
The expert has correctly answered I agree with him and no extra comment is required.
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