No, that's not what the words mean. The words are rather confusing in account-speak. 'Received' and 'receivable' are opposite terms.
The loan described in the statutory accounts was made
by MED to AXIS - that's what 'receivable' means. The money lent should be received back into MED's accounts when AXIS repays.
https://ycharts.com/glossary/terms/loans_receivable
"Loans Receivable are the funds that a company has lent that have not yet been repaid."
