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Note 21 - Non-Controlling Interest In Subsidiary | 12 Months Ended
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Jun. 30, 2013
Noncontrolling Interest [Abstract] |
Noncontrolling Interest Disclosure [Text Block] | NOTE 21 – NON-CONTROLLING INTEREST IN SUBSIDIARY The Company had non-controlling interests in several of its subsidiaries. The balance of non-controlling interest as of June 30, 2013 and 2012 was as follows:
SUBSIDIARY |  | Non Controlling Interest % |  |  | Non-Controlling Interest at June 30, 2013 |
NetSol PK |  |  | 34.81 | % |  | $ | 15,593,585 |
NetSol-Innovation |  |  | 49.90 | % |  |  | 1,161,649 |
VLS |  |  | 49.00 | % |  |  | 481,121 |
Vroozi |  |  | 9.09 | % |  |  | 34,908 |
Total |  |  |  |  |  | $ | 17,271,263 |
SUBSIDIARY |  | Non Controlling Interest % |  |  | Non-Controlling Interest at June 30, 2012 |
NetSol PK |  |  | 39.48 | % |  | $ | 13,600,492 |
NetSol-Innovation |  |  | 49.90 | % |  |  | 1,076,833 |
VLS |  |  | 49.00 | % |  |  | 722,096 |
Total |  |  |  |  |  | $ | 15,399,421 |
(A) | NetSol Technologies, Limited (“NetSol PK”)
NetSol PK is majority owned by the Company. During the year ended June 30, 2013, the Company purchased 4,071,400 shares of NetSol PK from the open market against the value of $799,349. After this purchase, the non-controlling interest in NetSol PK was reduced from 39.48% to 34.81%. For the fiscal years ended June 30, 2013 and 2012, NetSol Technologies Ltd. (“NetSol PK”) had net income of $11,284,696 and $9,438,135. The related non-controlling interest was $3,967,678 and $3,736,175, respectively. For the same period the Comprehensive loss attributable to non-controlling interest was $1,283,182 and $1,657,376, respectively. Employees of Netsol PK also exercised options to acquire 661,500 shares of the subsidiary valued at $107,945.
(B) | NetSol Innovation (Private) Limited (“NetSol Innovation”)
For the fiscal years ended June 30, 2013 and 2012, NetSol Innovation had net income of $1,108,214 and $1,102,318. The related non-controlling interest was $556,455 and $550,056, respectively. For the same period the Comprehensive loss attributable to non-controlling interest was $82,641 and $100,447 respectively. During the fiscal year-ended June 2013, NetSol Innovation declared a cash dividend of $786,170, of which the Company’s interest was $397,173. The amount attributable to the non-controlling interest was $388,997 and is reflected in the accompanying consolidated financial statements.
(C) | VIRTUAL LEASE SERVICES “VLS”)
For the fiscal years ended June 30, 2013 and 2012, VLS had a net loss of $477,814 and $150,013. The related, non-controlling interest was $234,129 and $73,506, respectively. For the same period the comprehensive loss attributable to non-controlling interest was $6,846 and comprehensive income $4,582 respectively.
(D) | VROOZI, INC.
During the quarter ended March 31, 2013, the subsidiary company issued shares worth of $100,000 to one employee against his services. As a result, the status of the subsidiary has been changed from wholly owned subsidiary to majority owned subsidiary. For the year ended June 30, 2013, Vroozi had a net loss of $2,344,708 of which $65,092 has been recorded as non-controlling interest.

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684 + Details
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