Page 124 - InterloopAnnualReport2021

NOTES TO THE

FINANCIAL STATEMENTS

For the year ended June 30, 2021

2021 2020
Note (Rupees ‘000) (Rupees ‘000)
16.2 Receivables from related parties:
IL Bangla Limited - Unquoted associate 16.5 – 88,562
Interloop Limited ESOS Management Trust 675 –
675 88,562

16.3 The maximum aggregate amount of other receivable due from related parties at the end of any month
during the year was Rs. 94.54 million (2020: Rs. 88.56 million ).

16.4 At June 30, 2021, other receivables aggregating to Rs. 0.68 million (2020: Rs. 88.56 million) were past
due but not impaired. The ageing analysis of these receivables is as follows:
2021 2020
(Rupees ‘000) (Rupees ‘000)
Up to 3 months – 5,796
More than 3 months 675 –
More than 1 year – 82,766
675 88,562

16.5 This represented balance receivable against payments made on behalf of IL Bangla Limited. Interest
charged at effective rate of 7.53% per annum.

2021 2020
Note (Rupees ‘000) (Rupees ‘000)
17. ACCURED INCOME
Interest on loan to Metis International (Pvt) Limited 1,510 1,633
Profit on term finance certificates (TFCs) 621 606
2,131 2,239

18. TAX REFUNDS DUE FROM GOVERNMENT
DDT 2,398,409 447,587
Sales tax refundable 966,547 954,308
Income tax refundable 963,599 1,006,119
4,328,555 2,408,014
19. SHORT TERM INVESTMENTS
At amortized cost
Term Deposit Receipts (TDRs)
Allied Bank Limited 19.1 – 125,044

Term Finance Certificates (TFCs)
Habib Bank Limited 9.2 500,000 –
500,000 125,044

19.1 Short term investment in TDRs earned interest at effective rate of 6.40% per annum (2020: 6.40% to
12.60% per annum). Accrued profit was Nil (2020: Rs. 0.044 million) included in the carrying value.

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