Disclosure of name of related parties and directors’ interest in other companies in financial statements

Related party transaction simply means to a deal or arrangement made between two parties who are joined by a pre-existing business relationship or common interest. Companies often seek business deals with parties with whom they are familiar or have a common interest. Although related-party transactions are themselves legal, they may likely to create conflicts of interest or lead to other illegal situations.Related party transaction simply means to a deal or arrangement made between two parties who are joined by a pre-existing business relationship or common interest. Companies often seek business deals with parties with whom they are familiar or have a common interest. Although related-party transactions are themselves legal, they may likely to create conflicts of interest or lead to other illegal situations.taxmann.com Latest ArticlesRead More

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