Page 266 - InterloopAnnualReport2020

NOTES TO THE CONSOLIDATED

FINANCIAL STATEMENTS

For the year ended June 30, 2020

47. TRANSACTIONS WITH RELATED PARTIES
Related parties include associated companies and undertakings, entities under common directorship, directors,
major shareholders, key management personnel, employees benefit trust and post employment benefit plans. The
group in the normal course of business carries out transactions with these related parties. Amounts due from and
to related parties are shown under the relevant notes to the financial statements. Remuneration to directors and key
management personnel is disclosed in note - 46. Detail of transactions with related parties, other than those which
have been specifically disclosed elsewhere in these financial statements are as follows:

2020 2019
Name Nature of transaction (Rupees ‘000) (Rupees ‘000)
IL Bangla Limited Sale of yarn 486 –
Interest on receivables 5,796 5,796
Interloop Holdings (Pvt) Limited Expenses paid on behalf of associate – 200
Finance management services received 84,825 7,500
Sale of assets 7,904 22,323
Loan obtained during the year – 3,000,000
Loan repaid during the year 1,400,000 1,600,000
Mark up expense on loan 10,109 83,651
Interloop Limited ESOS Dividend 45 –
Management Trust Payment received on behalf of Trust - net – 838
Interloop Welfare Trust Sale of assets – 1,214
Texlan Center (Pvt) Limited Sale of assets – 58,100
Sale of yarn 826,606 644,549
Sale of spare parts and packing material 49,808 –
PrintKraft (Pvt) Limited Sales of asset 485 –
Momentum Logistics (Pvt) Limited Transportion services received 2,001 –
Global Veneer Trading Limited Selling commission 573,728 884,278
Eurosox Plus BV Sale of socks 660,364 693,658
Reimbursement of expenses – 5,129
Interloop Provident Fund Trust Contribution to the fund 42,991 32,619
Key management personnel Sale of vehicle – 5,551
and other related parties House building finance loan – 33,250
Mark up on house building finance loan 642 923
Repayment of loan 3,696 146,573
Issuance of bonus shares – 5,587,323
Rent expenses 1,169 1,062
Issuance of ordinary shares – 3,000
Dividend paid 2,064,819 1,400,733

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