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CLAIMS AND ADVANCES

3 Months Ended

Jun. 30, 2022

Disclosure Text Block Supplement [Abstract]

Other Assets Disclosure [Text Block]

NOTE 8 – CLAIMS AND ADVANCES

		(in thousands)
		As of June 30, 2022 ($)				As of March 31, 2022 ($)
Claims receivable (1)			354				368
Non-current advances (2)			568				569
Total			922				937

(1)

The claims receivable is due from the Cochin International Airport (“CIA”) which is partially owned by the State Government of Kerala. While the Company has initiated collection proceedings in the Commercial Court of Ernakulam, the Company believes it will be difficult to receive the amount in the next 12 months because of the time required for legal collection proceedings. The decrease in claims receivable was mainly due to foreign exchange translation as a result of a decrease in the value of the Indian Rupee.

(2)

Includes $200 thousand owed to one of our manufacturers for the purchase of equipment.

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- Definition

The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets.

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