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Intangible Assets, Net | 6 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets, Net | 8. Intangible assets, net
|  |  |  |  | As of September 30, 2024 |  |  | As of March 31, 2024 |
Software for internal use |  |  |  |  |  | 8,295,276 |  |  |  | 8,583,145 |
Customer contracts - (refer note 19) |  |  |  |  |  | 1,209,556 |  |  |  | 2,299,835 |
Intangible assets under development |  |  |  |  |  | 568,195 |  |  |  | 439,374 |
Intellectual property |  |  |  |  |  | 158,798 |  |  |  | 153,487 |
Trademark |  |  |  |  |  | 54 |  |  |  | 54 |
Total |  |  |  |  |  | 10,231,879 |  |  |  | 11,475,895 |
Less: accumulated depreciation and amortization |  |  |  |  |  | (9,085,391 | ) |  |  | (8,442,649 | )
Less: impairment loss |  |  |  |  |  | (43,642 | ) |  |  | (43,642 | )
Intangible assets, net |  |  |  |  |  | 1,102,846 |  |  |  | 2,989,604 |
During the six month period ended September 30, 2024, the Company has decapitalized intangible assets worth $1,456,289 out of which customer contracts with Global Insurance management worth $1,157,920 and accumulated amortization of $389,714 associated with these contracts were written back on account of termination of contract and no future economic benefits is available with the Company. Also the Company decapitalized software of $298,369 and written back associated accumulated amortization of $215,489. During the year ended March 31, 2024, the Company acquired intangible assets worth $4,955,565 related to FA Premium Insurance Broking Pvt. Ltd., Global Insurance Management Limited and National Automobile Club. The Company ceases to hold board control over Peoplebay Consultancy Services Private Limited and FA Events & Media Private Limited with effect from October 1, 2023 and FA Premium Insurance Private Limited with effect from January 1, 2024, as a result intangible assets worth $2,017,117 have been derecognized and impairment & amortization on customer contract of $335,185 has been reversed. The Company performed qualitative assessment for intangible assets and indicated that it was more likely than not that the carrying value of the acquired entities exceeded its fair value, therefore, it did not result in an impairment. The estimated amortization schedule for the Company’s intangible assets for future periods is set out below:
For Period Ended September 30 2024: |  |  |  |  |  |  | Amount |
2025 |  |  |  |  |  |  |  | 247,692 |
2026 |  |  |  |  |  |  |  | 123,743 |
2027 and thereafter |  |  |  |  |  |  |  | 20,718 |

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