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SCHEDULE OF COMPONENTS OF NOTES PAYABLE AND CAPITAL LEASES (Details) - USD ($) | Mar. 31, 2022 | Jun. 30, 2021
--- | --- | ---
Debt Instrument [Line Items] |  |  |
Total |  | $ 9,665,481 | $ 11,897,905
Current Maturities |  | 9,584,614 | 11,246,678
Long-Term Maturities |  | 80,867 | 651,227
Subsidiary Finance Leases, Total | [1] | 85,087 | 168,107
Subsidiary Finance Leases, Current Maturities | [1] | 38,055 | 119,493
Subsidiary Finance Leases, Long-Term Maturities | [1] | 47,032 | 48,614
Total |  | 9,750,568 | 12,066,012
Current Maturities |  | 9,622,669 | 11,366,171
Long-Term Maturities |  | 127,899 | 699,841
D And O Insurance [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Total | [2] | 186,395 | 73,143
Current Maturities | [2] | 186,395 | 73,143
Long-Term Maturities | [2] |  |
Bank Overdraft Facility [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Total | [3] |  |
Current Maturities | [3] |  |
Long-Term Maturities | [3] |  |
Term Finance Facility [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Total | [4] | 711,264 | 1,648,818
Current Maturities | [4] | 711,264 | 1,090,259
Long-Term Maturities | [4] |  | 558,559
Loan Payable Bank One [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Total | [5] | 2,728,811 | 3,162,555
Current Maturities | [5] | 2,728,811 | 3,162,555
Long-Term Maturities | [5] |  |
Loan Payable Bank Two [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Total | [6] |  |
Current Maturities | [6] |  |
Long-Term Maturities | [6] |  |
Loan Payable Bank Three [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Total | [7] | 2,073,896 | 2,403,542
Current Maturities | [7] | 2,073,896 | 2,403,542
Long-Term Maturities | [7] |  |
Loan Payable Bank Four [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Total | [8] |  |
Current Maturities | [8] |  |
Long-Term Maturities | [8] |  |
Loan Payable Bank Five [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Total | [9] | 3,820,335 | 4,427,578
Current Maturities | [9] | 3,820,335 | 4,427,578
Long-Term Maturities | [9] |  |
Sale and Lease Back Financing [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Total | [10] | 101,342 | 85,313
Current Maturities | [10] | 39,417 | 28,183
Long-Term Maturities | [10] | 61,925 | 57,130
Term Finance Facility One [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Total | [11] | 38,428 | 55,182
Current Maturities | [11] | 19,486 | 19,644
Long-Term Maturities | [11] | 18,942 | 35,538
Insurance Financing [Member] |  |  |
Debt Instrument [Line Items] |  |  |
Total | [12] | 5,010 | 41,774
Current Maturities | [12] | 5,010 | 41,774
Long-Term Maturities | [12] |  |
[1] | The Company leases various fixed assets under finance lease arrangements expiring in various years through 2024. The assets and liabilities under finance leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the asset. The assets are secured by the assets themselves. Depreciation of assets under finance leases is included in depreciation expense for the three and nine months ended March 31, 2022 and 2021.
[2] | The Company finances Directors’ and Officers’ (“D&O”) liability insurance and Errors and Omissions (“E&O”) liability insurance, for which the D&O and E&O balances are renewed on an annual basis and, as such, are recorded in current maturities. The interest rate on these financings were ranging from 5.0% to 7.0% as of March 31, 2022 and June 30, 2021.
[3] | The Company’s subsidiary, NTE, has an overdraft facility with HSBC Bank plc whereby the bank would cover any overdrafts up to £300,000, or approximately $394,737. The annual interest rate was 5.12% as of March 31, 2022. The total outstanding balance as of March 31, 2022 and June 30, 2021 was £Nil.
[4] | The Company’s subsidiary, NetSol PK, has a term finance facility from Askari Bank Limited, approved by the Government of Pakistan to protect the employment situation during the COVID-19 pandemic. This is a term loan payable in three years. The availed facility amount was Rs. 130,324,892 or $711,264, at March 31, 2022, which is shown as current. The availed facility amount was Rs. 260,678,818 or $1,648,818, at June 30, 2021, of which $1,090,259 is shown as current and the remaining $558,559 is shown as long term. The interest rate for the loan was 3% at March 31, 2022 and June 30, 2021.
[5] | The Company’s subsidiary, NetSol PK, has an export refinance facility with Askari Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 500,000,000 or $2,728,811 at March 31, 2022 and Rs. 500,000,000 or $3,162,555 at June 30, 2021. The interest rate for the loan was 3% at March 31, 2022 and June 30, 2021.
[6] | The Company’s subsidiary, NetSol PK, has a running finance facility with Askari Bank Limited, secured by NetSol PK’s assets. The total facility amount is Rs. 75,000,000 or $409,322, at March 31, 2022. The balance outstanding at March 31, 2022 and June 30, 2021 was Rs. Nil. The interest rate for the loan was 14.0% and 9.5% at March 31, 2022 and June 30, 2021, respectively.
[7] | The Company’s subsidiary, NetSol PK, has an export refinance facility with Samba Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 380,000,000 or $2,073,896 and Rs. 380,000,000 or $2,403,542 at March 31, 2022 and June 30, 2021, respectively. The interest rate for the loan was 3% at March 31, 2022 and June 30, 2021.
[8] | The Company’s subsidiary, NetSol PK, has a running finance facility with Samba Bank Limited, secured by NetSol PK’s assets. The total facility amount is Rs. 120,000,000 or $654,915 and Rs. 120,000,000 or $759,013, at March 31, 2022 and June 30, 2021, respectively. The interest rate for the loan was 13.5% and 9.0% at March 31, 2022 and June 30, 2021, respectively. The balance outstanding at March 31, 2022 and June 30, 2021 was Rs. Nil.
[9] | The Company’s subsidiary, NetSol PK, has an export refinance facility with Habib Metro Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 900,000,000 or $4,911,859 and Rs. 900,000,000 or $5,692,600, at March 31, 2022 and June 30, 2021, respectively. NetSol PK used Rs. 700,000,000 or $3,820,335 and Rs. 700,000,000 or $4,427,578, at March 31, 2022 and June 30, 2021, respectively. The interest rate for the loan was 3% at March 31, 2022 and June 30, 2021.
[10] | The Company’s subsidiary, NetSol PK, availed sale and leaseback financing from First Habib Modaraba secured by the transfer of the vehicles’ title. As of March 31, 2022, NetSol PK used Rs. 18,568,847 or $101,342 of which $61,925 was shown as long term and $39,417 as current. As of June 30, 2021, NetSol PK used Rs. 13,487,949 or $85,313 of which $57,130 was shown as long term and $28,183 as current. The interest rate for the loan was 9.0% at March 31, 2022, and June 30, 2021.
[11] | In March 2019, the Company’s subsidiary, VLS, entered into a loan agreement. The loan amount was £69,549, or $91,512, for a period of 5 years with monthly payments of £1,349, or $1,775. As of March 31, 2022, the subsidiary has used this facility up to $34,428, of which $18,942 was shown as long-term and $19,486 as current. As of June 30, 2021, the subsidiary has used this facility up to $55,182, of which $35,538 was shown as long-term and $19,644 as current. The interest rate was 6.14% at March 31, 2022 and June 30, 2021.
[12] | The Company’s subsidiary, VLS, finances Directors’ and Officers’ (“D&O”) liability insurance, and the $5,011 and $41,774 was recorded in current maturities, at March 31, 2022 and June 30, 2021, respectively. The interest rate on this financing ranged from 9.7% to 12.7% as of March 31, 2022 and was 9.7% as of June 30, 2021.

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