Go Fashion (India) Limited {formerly known as Go Fashion (India) Private Limited}
Notes to the restated consolidated financial information
(Amount in 2 Millions, except for share data or as otherwise stated)

Note

No.
39 Related party disclosure continued
C Balances with related parties

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

Particulars KMP Enterprises owned or
significantly influenced by Key
Management Personnel /
Directors and their relatives
‘As at
31/Mar/2019 31/Mar/2019
‘Trade receivables
GO Fashion FZE - -
Meridian Global Ventures Private Limited - 0.01
Security deposit
Meridian Global Ventures Private Limited = 7.20
‘Trade payable
GO Fashion FZE - -
Meridian Global Ventures Private Limited - 0.03
Loan receivable
GO Fashion FZE = -
Balances receivable
Ms.Usha Saraogi - -
Ms.Anita Rasiwasia - -
Ms.Pushpa Saraogi 0.00 -
Ms.Neha Garodia - -
Ms. Ruchita Saraogi - -
D__ The following are the details of the transactions eliminated as per Ind AS 24 read with SEBI ICDR Regulations during the year ended March 31, 2019:
Name of Related Party Nature of transactions & Millions
Go Fashion FZE Investment in Equity 70.73
Unsecured loan Receivable* 34.55
Trade Receivable 2.44
‘Total 107.72

 

*Note: Also refer Note E below

E__ The company has provided unsecured loan to Go Fashion FZE amounting to 2 34.55 Million (AED 19,55,000), during the financial year 2017-18, repayable on
demand, duly authorised by the Board of Directors at their meeting held on 14.06.2017 (AED 1,000,000), 07.09.2017 (AED 400,000), 07.11.2017 (AED 200,000) and
16.02.2018 (AED 355,000). Since the aforesaid amount of & 34.55 Million was not recoverable, it has been written-off in the company’s books for the year ended

March 31, 2019.

F During the financial year 2018-19, the company had provided an advance to Meridian Global Ventures Private Limited amounting to % 30.00 Million (% 30.00 Million
in July 18), and it has been fully settled during the same financial year 2018-19 (& 20.00 Million in August '18 and % 10.00 Million in September '18). Interest at the

rate of 7.50% per annum has been charged on the same.

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