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DEPOSITS AND ADVANCES

9 Months Ended

Dec. 31, 2021

NOTE 4 – DEPOSITS AND ADVANCES

	*(in thousands)*
	As of December 31, 2021 ($)		As of March 31, 2021 ($)
Advances to suppliers and consultants		1,044		1,295
Advances for property, plant, and equipment		-		4
Other receivables and deposits		511		1,741
Prepaid expense and other current assets		149		196
Total		1,704		3,236

The Advances to suppliers and consultants primarily relate to advances to suppliers in our Life Sciences and Infrastructure segments. Advances for Property, Plant, and, Equipment include an advance paid for the equipment. Prepaid expense and other current assets include approximately $62 thousand of statutory advances as of December 31, 2021, as compared to $36 thousand as of March 31, 2021. Other receivables and deposits as of March 31, 2021, comprised 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 $1.7 million inventory during the nine months ended December 31, 2021. We are simultaneously pursuing the vendor for compensation.