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INVESTMENTS IN NON-MARKETABLE SECURITIES

9 Months Ended

Dec. 31, 2020

ASU 2016-01 Transition [Abstract]

Cost-method Investments, Description [Text Block]

NOTE 7 – INVESTMENTS IN NON-MARKETABLE SECURITIES

		(in thousands)
		As of December 31, 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 December 31, 2020, the Company owns an approximate 19.8% interest in Evolve. The Company may try to find an amicable resolution for the disposition of the current holding.

The Company regularly reviews its investment portfolio to determine if any security is permanently 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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