RELATED PARTIES |
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| RELATED PARTIES | 24. RELATED PARTIES
Related parties comprise the parent Company, associated companies / undertakings, directors of the Company and their close relatives and key management personnel of the Company. The Company in the normal course of business, carries out transactions with various related parties. Credit terms with related parties are more than normal business arrangements. Amounts due from and due to related parties are shown under respective notes to these financial statements.
As on June 30, 2025 and December 31, 2024, the outstanding balance from key management personnel was approximately $362,314 and $542,185, respectively against miscellaneous expenses including salaries and other employee benefits, etc.
The Company owes approximately $0.47 million and $0.71 million in interest free loans from its director, Babar Ali Syed, as of June 30, 2025 and December 31, 2024, respectively, which is repayable at the discretion of the Company. |
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