|
The components of short term investments were as follows:
(In USD)
As at | |
December 31,
2024 | | |
March 31,
2024 | |
| | |
| | |
| |
| Certificate of deposits | |
$ | - | | |
$ | 298,495 | |
| Short term investments | |
$ | - | | |
$ | 298,495 | |
|
8 (a)
Short term investments
The
components of short term investments were as follows:
(In USD)
| As at | |
March
31,
2024 | | |
March
31,
2023 | |
| | |
| | |
| |
| Certificate
of deposits* | |
$ | 298,495 | | |
$ | - | |
| Short term investments | |
| 298,495 | | |
| - | |
| * | In April 2024, Lease Plan India Private Limited invoked the
bank guarantee provided as bank guarantee during the restructuring process, resulting in the adjustment of a certificate of deposit amounting
to $127,609. However, as of March 31, 2024, the event has considered probable and thus, certificate of deposits has been adjusted against
the outstanding liability of Lease Plan India Private Limited as of balance sheet date (Refer Note 12). |
Further, certificate of deposits amounting to $259,992
with Mahindra and Mahindra Financial Services are under lien against debt availed. These were presented under “Short term investments
with related parties” and “Investments with related parties” as on March 31, 2023. (Refer Note 8(b) and 14(b)).
8
(b) Short term investments with related parties
The
components of short term investments were as follows:
(In USD)
| As at | |
March
31,
2024 | | |
March
31,
2023 | |
| Certificate
of deposits with related parties* | |
| - | | |
| 166,540 | |
| Short term investments | |
| - | | |
| 166,540 | |
| * | Mahindra & Mahindra Financial Services Limited was a
related party till December 28, 2023, hence the outstanding balance as on March 31, 2024 with the related party has been disclosed under
certificate of deposits in Note 8(a) above. |
Further, these deposits are under lien against debt availed
from the party.
|