Property and Equipment, Net

6 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

7. Property and equipment, net

The components of property and equipment, net were as follows:


	As of September 30, 2024			As of March 31, 2024
Computers		725,138			660,504
Office equipment		332,152			422,046
Furniture & fixtures		289,484			162,851
Electrical equipment		30,941			30,972
Leasehold improvements		31,632			31,736
Total		1,409,347			1,308,109
Less: accumulated depreciation		(1,060,601	)		(853,520	)
Property and equipment, net		348,746			454,589

The Company capitalized $101,238 (net of disposal, transfer and CTA impact of nil, $103,210 and $ (1,387) respectively) and capitalized $687,130 (net of disposal and CTA impact of $106 and $(1,180), respectively) for the period ended September 30, 2024 and for the fiscal year ended March 31, 2024 respectively, of which $396,123 is related to acquisition of FA Premium Insurance Broking Pvt. Ltd., Global Insurance Management Limited and National Automobile Club for the fiscal year ended March 31, 2024. During the fiscal year ended March 31, 2024, the Company ceased 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 property and equipment worth $73,641 has been derecognized. The Company capitalized $15,762 and $28,008 towards computers for the six month period ended September 30, 2024 and the fiscal year ended March 31, 2024, respectively. Depreciation expense relating to property and equipment amounted to $54,453 and $152,113 for the six month period ended September 30, 2024 and the fiscal year ended March 31, 2024 respectively out of which $17,377 and $77,422 relate to computers for the six month period ended September 30, 2024 and the fiscal year ended March 31, 2024 respectively.