XML 43 R16.htm IDEA: XBRL DOCUMENT

NOTE 9 - OTHER INCOME	12 Months Ended
Mar. 31, 2012
Other Income and Other Expense Disclosure [Text Block]	NOTE 9 – OTHER INCOME Other income in the current year consists primarily of the write back of liabilities relating purchase consideration payable to the promoters of H&F Ironman. The purchase consideration of USD 1 million relating to the acquisition of Ironman was linked to certain committed conditions to be completed before the year ended March 31, 2012. These conditions were not consummated and accordingly, the Company has written back the liabilities relating to these earn outs. Other income also contains certain foreign exchange gains/losses arising on account of re-measurement of certain intercompany receivables between the US holding company and the India subsidiaries. The total foreign exchange loss for the year ended March 31, 2012 amounted to USD 694,532.

NOTE 9 - OTHER INCOME

12 Months Ended

Mar. 31, 2012

Other Income and Other Expense Disclosure [Text Block]

NOTE 9 – OTHER INCOME

Other income in the current year consists primarily of the write back of liabilities relating purchase consideration payable to the promoters of H&F Ironman. The purchase consideration of USD 1 million relating to the acquisition of Ironman was linked to certain committed conditions to be completed before the year ended March 31, 2012. These conditions were not consummated and accordingly, the Company has written back the liabilities relating to these earn outs.

Other income also contains certain foreign exchange gains/losses arising on account of re-measurement of certain intercompany receivables between the US holding company and the India subsidiaries. The total foreign exchange loss for the year ended March 31, 2012 amounted to USD 694,532.