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LOANS RECEIVABLE, NET

12 Months Ended

Mar. 31, 2022

LOANS RECEIVABLE, NET

LOANS RECEIVABLE, NET

Note 6 – LOANS RECEIVABLE, NET

​

​	​	​	​	​
​		As of		As of
​	​	March 31, 2022	​	March 31, 2021
​	​	USD	​	USD
Loans receivable		46,115,732		44,660,186
Allowance for uncollectible loans receivable		(46,115,732)		(39,172,141)
Loans receivable, net - current		—		5,488,045

​

Movement of allowance for uncollectible loans receivable during the years ended March 31, 2022 and 2021 is as follows:

​

​	​	​	​	​	​	​
​		Year ended			Year ended
​	​	March 31, 2022		​	March 31, 2021
​	​	USD		​	USD
Balance at beginning of the year	​	​	39,172,141	​	​	15,017,029
Provision for allowance of uncollectible loans receivable	​	​	5,561,457	​	​	22,159,416
Foreign currency translation adjustments	​	​	1,382,134	​	​	1,995,696
Balance at end of the year	​	​	46,115,732	​	​	39,172,141

​

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The entire disclosure for loan receivables.

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- References

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