RELATED PARTY TRANSACTIONS

3 Months Ended

Jun. 30, 2021

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 4 – RELATED PARTY TRANSACTIONS

Nemaura Pharma Limited (“Pharma”), NDM Technologies Limited (“NDM”) and Black and White Health Care Limited (“B&W”) are entities controlled by the Company’s Chief Executive Officer, President, director and majority stockholder, Dewan F.H. Chowdhury.

These unaudited condensed consolidated financial statements are intended to reflect all costs associated with the operations of DDL and TCL. Pharma has a service agreement with DDL to undertake development, manufacture and regulatory approvals under Pharma’s ISO13485 accreditation. In lieu of these services, Pharma invoices DDL on a periodic basis for said services. Services are provided at cost plus a service surcharge amounting to less than 10% of the total costs incurred.

The table below provides a summary of activity between the Company and Pharma and NDM for the three months ended June 30, 2021 and 2020, and the year ended March 31, 2021.

	Three Months Ended June 30, 2021 (unaudited) ($)			Three Months Ended June 30, 2020 (unaudited) ($)			Year Ended March 31, 2021 ($)
Amounts due to related parties at beginning of period		148,795			830,093			830,093
Amounts invoiced by Pharma to DDL, NDM and TCL (1)		597,594			298,999			2,441,108
Amounts invoiced by DDL to Pharma		—			—			(17,213	)
Amounts paid by DDL to Pharma		(856,904	)		(582,089	)		(3,209,084	)
Foreign exchange differences		2,727			(2,922	)		103,891
Amounts due from / to related parties at end of period		(107,788	)		544,081			148,795

(1) These amounts are primarily incurred as a result of research and development expenses charged to the Company by Pharma.

The Company routinely reviews its condensed consolidated statements of cash flows presentation of related party transactions for financing or operating classification based on the underlying nature of the item and intended repayment.