RELATED PARTIES

3 Months Ended

Mar. 31, 2024

RELATED PARTIES

RELATED PARTIES

22. 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.

Transactions During the Year

		March 31, 2024			December 31, 2023
		(Unaudited)
Worldcall Business Solutions (Private)	Expense borne on behalf of associate	$	-		$	10,194
Worldcall Business Solutions (Private) Limited	Interest charged during the year	$	21,332		$	11,756
Worldcall Cable (Private) Limited	Interest charged during the year	$	489		$	771
ACME Telecom (Private) Limited	Interest charged during the year	$	-		$	4
Worldcall Ride Hail (Private) Limited	Expenses borne on behalf of associate	$	4		$	-
	Interest charges		4			8
Key management personnel Advances against expenses disbursed (adjusted) - net	Advances against expenses disbursed / (adjusted) - net	$	(1,410	)	$	49,667

Balances (Due to) Due from Related Parties	March 31, 2024			December 31, 2023
	(Unaudited)
Worldcall Business Solutions (Private) Limited Other receivable	$	515,964		$	398,926
Worldcall Cable (Private) Limited Other receivable	$	11,846		$	9,447
AMB Management Consultants (Pvt.) Ltd  Other(payable) receivable	$	(212,674	)	$	(210,431	)
ACME Telecom (Private) Limited Other receivable	$	-		$	134
Worldcall Ride Hail (Private) Limited Other receivable	$	93		$	82

As on March 31, 2024 and December 31, 2023, outstanding balance from key management personnel was approximately $570,000 and $605,000, respectively against miscellaneous expenses including salaries and other employee benefits etc.

The Company owes approximately $0.79 million and $0.43 million interest free loan to its director as on March 31, 2024 and December 31, 2023, respectively, which is repayable at discretion of the Company.