Poonawalla fincorp
Poonawalla fincorp

Related party transaction

This query is : Resolved 

10 July 2012 OUR COMPANY HAS PURCHASED MATERIALS FROM RELIANCE INDUSTRIES LTD (RIL) THROUGH DEL CREDRE AGENT (DCA). BILL IS MADE IN THE NAME OF COMPANY. HOWEVER, PAYMENT IS MADE TO RIL THROUGH DCA. NO COMMISSION OR OTHER PAYMENT IS MADE TO DCA BY US. THE WHOLE TIME DIRECTOR IS SAME IN BOTH THE COMPANY I.E. DCA AND OUR COMPANY (KMP IS SAME). THE TRANSACTION IS RELATED PARTY TRANSACTION OR NOT. (PLS GIVE EXPLANATION)

10 July 2012 REFER ACCOUNTING STANDARD - 18 "RELATED PARTY DISCLOSURES"



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