The components of accounts payable were as follows:

The Indian subsidiary company has payables aggregating $238,207 and $219,285 as at March 31, 2026 and March 31, 2025 respectively towards services received from overseas parties, the settlement of which has been delayed beyond the period stipulated under the Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder, and for which approval of its Authorised Dealer bank for the delay is yet to be obtained. Management of the subsidiary company intends to regularise the delay with the Authorised Dealer bank and, where required, to file an application for compounding of the contravention with the Reserve Bank of India under Section 15 of the Foreign Exchange Management Act, 1999. Based on its assessment, management is of the opinion that any consequential penal liability arising from such contravention will not be material to these financial statements, and accordingly no adjustment has been made in respect thereof in these financial statements.