SUBSEQUENT EVENTS	6 Months Ended
Sep. 30, 2016
SUBSEQUENT EVENTS.
SUBSEQUENT EVENTS	NOTE 16 — SUBSEQUENT EVENTS Additional People’s Loan On October 4, 2016, TechPrecision and Ranor became committed to Schedule No. 002 to the MLSA, or Schedule 2. Pursuant to Schedule 2, People’s made an additional loan in the amount of $365,852, or the Additional People’s Loan, to Ranor upon the terms and conditions set forth in the MLSA and Schedule 2. Ranor will repay the Additional People’s Loan in monthly installments of principal and interest over 60 months. The Additional People’s Loan is guaranteed by TechPrecision pursuant to the original Corporate Guaranty from TechPrecision in favor of People’s dated March 31, 2016. The Additional People’s Loan is secured by a security interest in certain machinery and equipment of Ranor as provided in Schedule 2. Claim Assignment Agreement On November 7, 2016, GTAT notified Citigroup that Ranor’s unsecured claim was fully allowed without objection. As such, Citigroup paid Ranor an additional $614,452 on November 8, 2016, as set forth under the terms of the Assignment Agreement. On April 17, 2015, the Company, through Ranor, entered into an Assignment of Claim Agreement, or the Assignment Agreement, with Citigroup Financial Products Inc., or Citigroup. Pursuant to the terms of the Assignment Agreement, Ranor sold, transferred, conveyed and assigned to Citigroup all of Ranor’s right, title and interest in and to Ranor’s $3,740,956 unsecured claim against GTAT. Pursuant to the Assignment Agreement, Citigroup paid to Ranor an initial amount equal to $507,835, which amount is classified as a current liability on our balance sheet. The Assignment Agreement provided for Citigroup to pay to Ranor up to an additional $614,452 upon receipt of written notice that Ranor’s claim was fully and finally allowed against GTAT without objection. Director Stock Grants In December 2014, each non-employee director waived any compensation owed to them for their service to the Company. Accordingly, members of our board of directors have not received any compensation for their service on our board of directors since January 1, 2014. On November 10, 2016, our board of directors determined that it would grant shares of common stock to each of our directors as compensation for their service to the Company during the period from January 1, 2014 to November 9, 2016. Accordingly, our board of directors granted 600,000 shares of common stock to Mr. Anthony, 250,000 shares of common stock to each of Mr. Dur and Mr. Holly, and 200,000 shares of common stock to Mr. Isaman and Mr. Levy. The grant of shares of common stock to Mr. Anthony also recognizes his uncompensated service as Executive Chairman of the Company during the period from January 1, 2014 to November 17, 2014.

NOTE 16 — SUBSEQUENT EVENTS

Additional People’s Loan

On October 4, 2016, TechPrecision and Ranor became committed to Schedule No. 002 to the MLSA, or Schedule 2. Pursuant to Schedule 2, People’s made an additional loan in the amount of $365,852, or the Additional People’s Loan, to Ranor upon the terms and conditions set forth in the MLSA and Schedule 2.

Ranor will repay the Additional People’s Loan in monthly installments of principal and interest over 60 months. The Additional People’s Loan is guaranteed by TechPrecision pursuant to the original Corporate Guaranty from TechPrecision in favor of People’s dated March 31, 2016. The Additional People’s Loan is secured by a security interest in certain machinery and equipment of Ranor as provided in Schedule 2.

Claim Assignment Agreement

On November 7, 2016, GTAT notified Citigroup that Ranor’s unsecured claim was fully allowed without objection. As such, Citigroup paid Ranor an additional $614,452 on November 8, 2016, as set forth under the terms of the Assignment Agreement. On April 17, 2015, the Company, through Ranor, entered into an Assignment of Claim Agreement, or the Assignment Agreement, with Citigroup Financial Products Inc., or Citigroup. Pursuant to the terms of the Assignment Agreement, Ranor sold, transferred, conveyed and assigned to Citigroup all of Ranor’s right, title and interest in and to Ranor’s $3,740,956 unsecured claim against GTAT. Pursuant to the Assignment Agreement, Citigroup paid to Ranor an initial amount equal to $507,835, which amount is classified as a current liability on our balance sheet. The Assignment Agreement provided for Citigroup to pay to Ranor up to an additional $614,452 upon receipt of written notice that Ranor’s claim was fully and finally allowed against GTAT without objection.

Director Stock Grants

In December 2014, each non-employee director waived any compensation owed to them for their service to the Company. Accordingly, members of our board of directors have not received any compensation for their service on our board of directors since January 1, 2014. On November 10, 2016, our board of directors determined that it would grant shares of common stock to each of our directors as compensation for their service to the Company during the period from January 1, 2014 to November 9, 2016. Accordingly, our board of directors granted 600,000 shares of common stock to Mr. Anthony, 250,000 shares of common stock to each of Mr. Dur and Mr. Holly, and 200,000 shares of common stock to Mr. Isaman and Mr. Levy. The grant of shares of common stock to Mr. Anthony also recognizes his uncompensated service as Executive Chairman of the Company during the period from January 1, 2014 to November 17, 2014.