transactions party related
Dear Sir,
Greetings!!
there are two specific provisions which deals with realted party transaction disclosure, these are
section 188 under which you have to give disclosure of transactions which are mentioned in sub section 1 in format AOC-2 which is to be attached to form AOC-4 as mandatory attachment,
As per AS-18 read with schedule III of companies Act 2013
disclosure of related party transactions is madatory, should be under seperate heading in notes to accounts and following disclosures are to be made:
If there have been transactions between related parties, during the existence of a related party relationship, the reporting enterprise should disclose the following:
(i) the name of the transacting related party;
(ii) a description of the relationship between the parties;
(iii) a description of the nature of transactions; 280 AS 18
(iv) volume of the transactions either as an amount or as an appropriate proportion;
(v) any other elements of the related party transactions necessary for an understanding of the financial statements;
(vi) the amounts or appropriate proportions of outstanding items pertaining to related parties at the balance sheet date and provisions for doubtful debts due from such parties at that date; and
(vii) amounts written off or written back in the period in respect of debts due from or to related parties.
hope it helps
Thank you
Hi Everyone,
Will the following person is considered as a Related Party in a Private Company:
1. Private Trust who is a shareholder of the Pvt Company
2. Public Trust who is a shareholder of the Pvt Company
transaction party related
Dear All,
Kindly explain if the auditor of the company has resigned and if we have also appointed a new auditor in EGM and also has filed ADT-1, then
1. in next AGM, do we require to file ADT-1 again after ratification??
2. From where the tenure of 5 years shall start: from the year of EGM or from the year of AGM??
Dear all,
What are the consequences of not regularizing Additional Director in Annual General Meeting. What can be solution to get rid of additional fee?
director additional regularization
Hi,
Company A is a Public Limited registered on 2019, with 7 share holders out of which 3 are promoters. As per the requirements the Company take ISIN and demated the shares of 4 share holders (promoters and directors). Further the company has increased capital and allotted new shares and added new shareholders too. The initial subscriber (3) shareholders holding less than 1% is not open demat account and not complied with the procedures even after follow-ups and they were not responding to companies communications. What are your thoughts? whether its a mis compliance if 100% shares are demated? Is there any ways available to forfeit that shares? Or to transfer to IEPF?
minority shareholders response demat conversion shares deal
Dear Professionals,
Can anyone suggest me the documents for increase in capital contribution in LLP.
Dear Members,
The Number of Directors fall below 5 in producer co due to death of 1 director & company has appointed another due to this vacancy after 6 month is this amount noncompliance?
As per AOA the minimum requirement for director is 5.
Dear Professionals,
Being a PCS before affixing DSC of any Promoter on any Form under Companies Act. is it mandatory to take written Authority Letter for the same?
Thanks,
affixing
Dear Professionals,
Is DPT-3 Applicable on OPC Companies Also?
Thanks
applicability 
Hello
Section 188 of the Companies Act instructs to report related party transaction in the format specified named as AOC-2. Schedule III specifies the details which have to be mentioned about the related party transaction in the balance sheet