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DEPOSITS AND ADVANCES | 12 Months Ended
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Mar. 31, 2022
Deposits and Advances [Abstract] |
Deposits and Advances [Text Block] | NOTE 4 – DEPOSITS AND ADVANCES
|  | (in thousands) |
|  | As of March 31, 2022 ($) |  |  | As of March 31, 2021 ($) |
Advances to suppliers and consultants |  |  | 170 |  |  |  | 1,295 |
Other receivables and deposits |  |  | 472 |  |  |  | 1,745 |
Prepaid expense and other current assets |  |  | 336 |  |  |  | 196 |
Total |  |  | 978 |  |  |  | 3,236 |
The Advances to suppliers and consultants primarily relate to advances to suppliers in our Life Sciences and Infrastructure segment. Advances for Property, Plant, and Equipment include an advance paid for the equipment. Prepaid and other current assets include approximately $170 thousand statutory advances for Fiscal 2022, as compared to $36 thousand in Fiscal 2021. Other receivables and deposits as of March 31, 2021, consist of an inventory of $1.7 million that was on deposit with a vendor. The vendor reported the inventory as stolen and filed an insurance claim. The Company created a provision for the $1.9 million on stolen inventory and other advances and receivables during Fiscal 2022. We are simultaneously pursuing the vendor for compensation. The Company decided to move advances paid to some suppliers worth approximately $586 thousand to claims and advances, considering recovering might take more than 12 months.

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