Page 176 - InterloopAnnualReport2020
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NOTES TO THE UNCONSOLIDATED
FINANCIAL STATEMENTS
For the year ended June 30, 2020
2020 2019
Note (Rupees ‘000) (Rupees ‘000)
17.2 Receivables from related parties
include receivables from:
IL Bangla Limited – Unquoted associate 17.5 88,562 82,766
Interloop Welfare Trust – 1,214
88,562 83,980
17.3 The maximum aggregate amount of receivable due from related parties at the end of any month during the
year was Rs. 88.56 million (2019: Rs. 83.98 million).
17.4 At June 30, 2020, receivables aggregating to Rs. 88.56 million (2019: Rs. 83.98 million) were past due but
not impaired. The ageing analysis of these receivables is as follows:
2020 2019
(Rupees ‘000) (Rupees ‘000)
Up to 1 month 5,796 7,153
More than 1 year 82,766 76,827
88,562 83,980
17.5 This represents balance receivable against payments made on behalf of IL Bangla Limited. Interest is
charged at effective rate of 7.53% per annum.
2020 2019
(Rupees ‘000) (Rupees ‘000)
18. ACCURED INCOME
Interest on loan to Metis International (Pvt) Limited 1,633 10,441
Profit on term finance certificates (TFCs) 606 –
2,239 10,441
19. TAX REFUNDS DUE FROM GOVERNMENT
Duty drawbacks 447,587 646,486
Sales tax refundable 954,308 401,608
Income tax refundable 1,006,119 877,345
2,408,014 1,925,439
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