v2.4.0.6

DISTRIBUTION OF INCOME | 12 Months Ended
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Mar. 31, 2012
Distribution Of Income [Abstract] |
Distribution Of Income [Text Block] |
| 16. | DISTRIBUTION OF INCOME
Zhejiang Chisen and Chisen Jiangsu are required by the relevant laws and regulation to transfer at least 10% of their after-tax profit determined in accordance with the PRC accounting rules and regulations to a statutory surplus reserve until such reserve balance reaches 50% of their registered capital. The Company transferred US$299,000 and US$1,465,000 out of the after-tax income to the statutory reserve for the years ended March 31, 2012 and 2011, respectively. The statutory surplus reserve can only be utilized to offset prior years’ losses or for capitalization as paid-in capital. No distribution of the remaining reserves shall be made other than upon liquidation of Zhejiang Chisen and Chisen Jiangsu.

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- Definition The entire disclosure for distribution of income. + References No definition available. + Details
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