Moyyad Zapawala (Chartered Accountant) (425 Points)
07 January 2013Hello Friends,
Can anybody explation list of Related Parties as per the definition of AS -18? and the conditions for the disclosures?
transaction with the other company where the chairman's Doughter's Hasband is the managing director ot other company has some transaction with the company will come under the definition of Related party Transaction as per AS -18?
Pls let me know
Thanks in Advance
Komal Thakur
(CA Final)
(925 Points)
Replied 07 January 2013
No chairman's Daughter's husband Is not a related parrty As Per AS 18..
CA. Kapil Goel, DISA(ICAI)
(cakapilgoel.wordpress.com)
(2191 Points)
Replied 07 January 2013
The following are the related parties as per AS-18
1. Holding companies, subsidiaries and fellow subsidiaries
2. Associates and joint ventures
3. Individuals (incl. their relatives) – having voting power giving them control or significant influence
4. Key management personnel including their relatives
5. Enterprises where controlling individual or key managerial personnel has significant influence.
And, no chairman's daughter's husband is not a related party as per AS 18 (Related Party disclosures).
Moyyad Zapawala
(Chartered Accountant)
(425 Points)
Replied 07 January 2013
Thank you Kapil sir,
Defined the terms Relative's ? who will be included and excluded in the definition of related party.
CA. Kapil Goel, DISA(ICAI)
(cakapilgoel.wordpress.com)
(2191 Points)
Replied 07 January 2013
PRIYOJIT CHAKRABORTY
(Working in B.M. Chatrath & Company)
(51 Points)
Replied 09 July 2014
under what circumstances related party disclosure is must
harsh chandak
(4 Points)
Replied 27 April 2019
CAclubindia
