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INVESTMENTS IN NON-MARKETABLE SECURITIES

6 Months Ended

Sep. 30, 2020

ASU 2016-01 Transition [Abstract]

Cost-method Investments, Description [Text Block]

NOTE 7 – INVESTMENTS IN NON-MARKETABLE SECURITIES

		(in thousands)
		As of September 30, 2020 ($)				As of March 31, 2020 ($)
Investment in equity shares of unlisted company			12				11
Investment in Evolve I (i)			249				-
Total			261				11

(i) On May 12, 2020, the Company completed an investment under the terms of the Share Subscription Agreement (“SSA”) with Evolve I, Inc., a Washington corporation (“Evolve”), by transferring part of the consideration to Evolve. As of September 30, 2020, the Company owns approximately 19.8% interest in Evolve.

The Company regularly reviews its investment portfolio to determine if any security is other-than-temporarily impaired, which would require the Company to record an impairment charge in the period.

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- Definition

The entire disclosure for investments accounted for under the cost-method. The carrying amount of such investments may be adjusted, for example, distributions in excess of cost (return of capital) or for other-than-temporary impairments. The cost method and lower-of-cost or market, an adaptation of the cost method, is generally followed for most investments in noncontrolled corporations, in some corporate joint ventures, and to a lesser extent in unconsolidated subsidiaries in which the entity does not have the ability to exercise significant influence.

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