Mumbai Challengers Ltd. measures its STADIUMS under the REVALUATION MODEL. An airline offers ₹700 cr for PROPERTY NAMING RIGHTS for 5 years. Three directors are common to both companies. Under Ind AS 24, the entities:

Ind AS 24 para 11 — entities are NOT related parties solely because they have a director or member of KMP in common. Common directors don't establish significant influence or control by themselves. The regulator may probe whether the sponsorship is on arm's-length terms but for Ind AS 24 disclosure purposes, related-party status requires control / joint control / significant influence / KMP-of-the-reporting-entity link — common directors alone don't satisfy these.