If A owns 40% of B (not controlling), and B owns 100% of C (controlling), are A and C related companies? Is it required to disclose in FS?

Owning 40% Non Controlling Interest (NCI) doesnt qualify to be a related party of the entity. Hence entity B is not related party of entity A although entity A holds 40% NCI. Therefore entity C which is fully owned subsidy of entity B does not qualify to be a related party for entity A. Related Party Disclosure under IAS 24 is not required in the Financial Statements.