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SUBSEQUENT EVENTS
9 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 19 – SUBSEQUENT EVENTS


On January 13, 2021, the Company entered into a Sales Agreement (the “Agreement”) with The Benchmark Company, LLC (“Benchmark”) (the “Sales Agent”) pursuant to which the Sales Agent will act as the Company’s sales agent with respect to the issuance and sale of up to $75,000,000 of the Company’s shares of common stock, par value $0.0001 per share (the “Shares”), from time to time in an “at the market” offering as defined in Rule 415(a)(4) of the Securities Act of 1933, as amended (the “Offering”).


On January 29, 2021, in Tchatchou v. India Globalization Capital, Inc., Civil Action No. 8:18-cv-03396, a shareholder class action litigation initiated against the Company on November 2, 2018, the United States District Court for the District of Maryland entered an order denying the Company’s Motion to Dismiss Consolidated Amended Complaint for Violation of Federal Securities Laws. The Company’s responsive pleading is due on February 15, 2021. The Company denies any and all liability and intends to vigorously defend the litigation. See Part II, Item 1 – Legal Proceedings.