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NOTE 3 - OTHER CURRENT AND NON-CURRENT ASSETS

9 Months Ended

Dec. 31, 2012

Other Assets Disclosure [Text Block]

NOTE 3 – OTHER CURRENT AND NON-CURRENT ASSETS

Prepaid expenses and other current assets consist of the following:

Pre-paid & Other Current Assets
		Period Ended Dec 31, 2012				Year Ended March 31, 2012
Prepaid / Preliminary Expenses		$	25,771			$	82,120
Advance to suppliers & services			962,307				620,148
Security & other Advances			107,466				125,503
Advances to Employees			1,079,286				1,561,123
Prepaid / accrued interest			424				717
Deposit and other current assets			210,544				196,903
Total		$	2,385,798			$	2,586,514

In the above Table, Advances to Employees represents advances made to employees of Ironman by Ironman, prior to its acquisition by IGC.

Other non-current assets consist of the following:

		Period Ended Dec 31, 2012				Year Ended March 31, 2012
Restricted cash		$	2,734			$	12,773
Deferred income taxes			-				(14,076	)
Sr. Debtors - pending more than 1 year			520,365				557,758
Advance pending more than 1 year			454,397				441,058
Total		$	977,496			$	997,513

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- Definition

The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets.

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