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NOTE 25 - SUBSEQUENT EVENTS
12 Months Ended
Mar. 31, 2012
Subsequent Events [Text Block]
NOTE 25 – SUBSEQUENT EVENTS

The Registration Statement on Form S-1 filed on March 5, 2012 as amended was declared effective on May 29, 2012. The S-1 registered 31,500,000 shares related to the Acquisition of Ironman and all the outstanding warrants.

Pursuant to the Purchase Agreement signed on June 21, 2012, IGC through its Chinese subsidiary PRC Ironman acquired land in Linxi, Inner Mongolia, China. The purchase price for the land is $4.4 million. IGC also entered into a Memorandum of Settlement, pursuant to which the Company gave up the 22% minority interest in Sricon Infrastructure Private Limited in exchange for approximately 5 acres of land in Nagpur.