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CLAIMS AND ADVANCES
 12 Months Ended
Mar. 31, 2021
Disclosure Text Block Supplement [Abstract]  
Other Assets Disclosure [Text Block]

NOTE 8 – CLAIMS AND ADVANCES


   

(in thousands)

  
   

As of

March 31, 2021

($)

    

As of

March 31, 2020

($)

  

Claims receivable (1)

     382       374  

Non-current deposits

     18       24  

Non-current advances (2)

     203       212  

Total

     603       610  

(1)

The claims receivable is due from the Cochin International Airport (“CIA”) that is partially owned by the State Government of Kerala. While the Company has initiated collection proceedings in the Commercial Court of Ernakulam, it believes it will be difficult to receive the amount in the next 12 months because of the time required for legal collection proceedings. The increase in claims receivable was mainly due to foreign exchange translation as a result of an increase in value of Indian Rupee. 
   

(2)

Includes a loan of $200 thousand to one of our manufacturers for the purchase of equipment, at an annual interest rate of three percent (3%), due on April 1, 2021.