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Related Party Transactions (Details 1) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Sep. 30, 2023
Mar. 31, 2023
Dec. 31, 2021
Interest expense $ 115,000 $ 52,000 $ 314,000 $ 166,000      
Accounts payable   676,652   676,652 $ 6,351,857   $ 2,810
Accounts receivable 18,152,000   18,152,000     $ 13,416,000  
Interest payable (classified under other current liabilities)   42,267   42,267 $ 62,267   $ 11,501
Aeries Financial Technologies Private Limited [Member]              
Cost sharing arrangements [1] 42,000 40,000 143,000 115,000      
Interest income [2],[3] 43,000 60,000 123,000 112,000      
Accounts receivable [1] 8,000   8,000     9,000  
Investment in 0.001% Series-A Redeemable preference share [3] 903,000   903,000     803,000  
Loans to affiliates (classified under other assets) [2] 105,000   105,000     106,000  
Bhanix Finance And Investment Limited [Member]              
Cost sharing arrangements [1] 27,000 2,000 87,000 84,000      
Corporate guarantee commission 3,000 2,000 9,000      
Accounts receivable [1] 51,000   51,000     86,000  
Aeries Technology Products And Strategies Private Limited [Member]              
Corporate guarantee expense [4] 4,000 2,000 11,000      
Interest expense [5] 7,000 21,000 1,000      
Interest income [3],[6] 24,000 21,000 77,000 64,000      
Office management and support services expense [7] 1,000 8,000 76,000 13,000      
Accounts payable [7]       29,000  
Accounts receivable 1,000   1,000      
Interest payable (classified under other current liabilities) [5] 9,000   9,000     1,000  
Interest receivable (classified under prepaid expenses and other current assets) [6] 50,000   50,000     57,000  
Investment in 10% Cumulative redeemable preference shares [3] 784,000   784,000     761,000  
Loans from affiliates [5] 193,000   193,000      
Loans to affiliates (classified under other assets) [6] 337,000   337,000     335,000  
Mr Vaibhav Rao [Member]              
Interest expense [8] 21,000 21,000 63,000 65,000      
Loan from Members of immediate families [8] 836,000   836,000     845,000  
Ralak Consulting L L P [Member]              
Legal and professional fees paid [9] 133,000 78,000 346,000 302,000      
Aark I I Pte Limited [Member]              
Management consultancy service [10] 737,000 346,000 2,439,000 949,000      
Accounts receivable [10] 483,000   483,000     1,084,000  
T S L C Pte Limited [Member]              
Management consultancy service [10] 39,000 127,000      
Accounts receivable [10] $ 159,000   $ 159,000     $ 259,000  
[1] The Company was in a cost sharing arrangement with Aeries Financial Technologies Private Ltd and Bhanix Finance and Investment Ltd under separate agreements dated April 1, 2020. The cost sharing arrangement included costs in the areas of office management, IT and operations. The agreements are for a 36-month term with auto renewals after the original term.
[2] The Company received interest income in relation to loans given to affiliates to support their working capital requirements. The loans were for a 3-year term and issued at an interest rate of 15-17% per annum.
[3] This amount represents investments in affiliates. The Company earned interest income on its investments in affiliates.
[4] ATPSPL gave corporate guarantee of INR 240,000 (or approximately $2,888 at the exchange rate in effect on December 31, 2023) on behalf of the Company towards the revolving credit facility availed. ATPSPL charges a corporate guarantee commission of 0.5% on the total corporate guarantee given. The guarantee was withdrawn during the nine month ended December 31, 2023.
[5] The Company incurred interest expense in relation to loans taken from ATPSPL, which were borrowed to meet working capital requirements. The loans were for a 3-year term and were issued at an interest rate of 12% per annum.
[6] The Company received interest income in relation to loans given to affiliates to support their working capital requirements. The loans were for a 3-year term and issued at an interest rate of 12% per annum.
[7] The Company availed management consulting services from ATPSPL under agreements dated March 20, 2020 and April 1, 2021.
[8] The Company obtained a loan at 10% interest rate from Vaibhav Rao for business purposes. The agreement shall remain valid until the principal amount along with interest is fully repaid. The principal amount of the loan was outstanding in entirety as of the nine month ended December 31, 2023 and 2022.
[9] The Company availed consulting services including implementation services in business restructuring, risk management, feasibility studies, mergers & acquisitions etc. from Ralak Consulting LLP vide agreement dated April 01, 2022.
[10] The Company provided management consulting services to Aark II Pte Ltd under an agreement dated June 21, 2021 and its amendments thereof and to TSLC Pte Ltd under an agreement dated July 12, 2021.