NOTE PAYABLE |
12 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Debt Disclosure [Abstract] | |
| NOTE PAYABLE | NOTE 13 - NOTE PAYABLE
On February 18, 2026, Nordicus Partners Corporation entered into a demand promissory note (the “Note”) with Reddington, in the aggregate amount of $40,000. The Note bears interest at a rate equal to the lesser of 6.0% per annum and the maximum rate permitted by applicable law. Interest is calculated on the basis of a 365-day year and actual days elapsed.
The outstanding principal balance, together with all accrued and unpaid interest, is due and payable on demand by the Lender and, accordingly, is classified as a current liability on the balance sheet. In the event of default, including nonpayment or certain insolvency events, the Payee may declare all amounts immediately due and payable and may pursue customary remedies, including collection costs and attorneys’ fees. The Company may prepay the Note, in whole or in part, at any time without premium or penalty. Payments made under the Note are applied first to accrued interest and then to principal.
On March 6, 2026, the Company entered into an additional demand promissory note with the same lender under substantially identical terms, pursuant to which the Company borrowed an additional $20,000.
As of March 31, 2026 and 2025, the principal balance due was $60,000 and $0, respectively. The Company recorded accrued interest expense of $345 and $0 for the years ended March 31, 2026 and 2025, respectively, which is included in accounts payable and accrued expenses on the consolidated balance sheets.
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