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DEPOSITS AND ADVANCES

12 Months Ended

Mar. 31, 2022

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.