| Other non-current assets |
| 14 | Other
non-current assets |
The components of other non-current assets were as follows:
(In USD)
As at |
|
December 31,
2024 |
|
|
March 31,
2024 |
|
| |
|
|
|
|
|
|
| Security deposits |
|
$ |
354,993 |
|
|
$ |
350,149 |
|
| Restricted cash* |
|
|
200,000 |
|
|
|
- |
|
| Receivables from car sale |
|
|
446,619 |
|
|
|
458,590 |
|
| Other non-current assets |
|
$ |
1,001,612 |
|
|
$ |
808,739 |
|
| * | Restricted cash represents amount held as an indemnification
escrow fund with the placement agent for all indemnification liabilities and expenses payable by the Company as per the placement agent
agreement for a period of 3 years from closing of the November 2024 Offering. |
|
| 15 | Other
non-current assets |
The
components of other non-current assets were as follows:
(In USD)
| As at | |
March
31,
2024 | | |
March
31,
2023 | |
| Security deposits* | |
$ | 350,149 | | |
$ | 425,669 | |
| Receivables from car
sale ** | |
| 458,590 | | |
| - | |
| Other
non current assets | |
| 808,739 | | |
| 425,669 | |
| * | (i) includes deposit amounting to $130,238 made as a pre deposit in court for Indian indirect tax appeal filed in FY 2021-22 and 2022-23 in the state of West Bengal and; (ii) $25,804 made as a deposit under protest for appeal filed for Income Tax litigation pertaining to FY 2015-16. |
| ** | includes receivable amount from Dbest Cars India Private
Limited ("Dbest"), pending arbitration after an initial court judgment in favour of the Company. The Company has handed over
the No Objection Certificates for the sold vehicles to Dbest as per the court orders. The timeframe for actual receipt of fund is depended
on the completion of realisation process with arbitration panel. |
|