NOTE 12 - PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Jun. 30, 2013

Property, Plant and Equipment [Abstract]

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 June 30, 2013			Year Ended March 31, 2013
Land		N/A	$	12,069		$	12,069
Building (Flat)		25		1,305,084			1,328,413
Plant and Machinery		20		9,386,517			9,396,659
Computer Equipment		3		216,979			217,659
Office Equipment		5		165,821			166,924
Furniture and Fixtures		5		120,854			121,943
Vehicles		5		567,665			569,352
Assets under construction		N/A		4,328,960			4,288,469
Total			$	16,103,949		$	16,101,488
Less: Accumulated Depreciation			$	(7,977,476	)	$	(7,917,258	)
Net Assets			$	8,126,473		$	8,184,230

Depreciation and amortization expense for the three months ended June 30, 2013 and 2012 was $149,294 and $83,594, 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 used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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