Troubled Debt Restructuring |
12 Months Ended | ||
|---|---|---|---|
Mar. 31, 2026 | |||
| Troubled Debt Restructuring [Abstract] | |||
| Troubled Debt Restructuring |
On April 22, 2025, the Company entered into a settlement agreement with Siddharth Assets, wherein the lessor has waived a portion of the outstanding liability and penalty accrued thereon. The Company agreed to make settlement in four monthly instalments, starting from April 2025. This outstanding liability is recorded under “Other liabilities” in “Other non-current liabilities” in the Consolidated Balances Sheets for the year. In the event of default, for every defaulted installment until realization of the entire settlement amount, a stipulated amount as per the agreement shall be paid additionally each month until the default is cured. The Company has accounted for this transaction as troubled debt restructuring under ASC 470-60. As at March 31, 2026, the Company has fully paid the balance payable against rental dues to Siddharth Assets.
The total gain on troubled debt restructuring recorded for the year ended March 31, 2026 is $72,912 ($1,171,161 for the year ended March 31, 2025 respectively). Basic EPS was increased by $0.006 as a result of these gains during the year ended March 31, 2026. |