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NOTE 12 - PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Dec. 31, 2012

Property, Plant and Equipment Disclosure [Text Block]

NOTE 12 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

Category	Useful Life (years)		Period Ended Dec 31, 2012			Year Ended March 31, 2012
Land		N/A	$	11,226		$	11,226
Building (Flat)		25		318,626			309,585
Plant and Machinery		20		9,201,720			9,371,150
Computer Equipment		3		217,855			219,110
Office Equipment		5		201,025			228,794
Furniture and Fixtures		5		87,800			88,804
Vehicles		5		491,969			474,622
Assets under construction		N/A		3,919,833			3,918,729
Total			$	14,450,054		$	14,622,020
Less: Accumulated Depreciation			$	(6,423,747	)	$	(6,130,224	)
Net Assets			$	8,026,307		$	8,491,796

Depreciation and amortization expense for the nine months ended December 31, 2012 and December 31, 2011 was $463,503 and $169,225, respectively. Capital work-in-progress represents advances paid towards the acquisition of property and equipment and the cost of property and equipment not put to use before the balance sheet date.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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