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Due to Related Parties
12 Months Ended
Mar. 31, 2017
Related Party Transactions [Abstract]  
Due to Related Parties

Note 10 – Due to Related Parties

 

Due to Related Parties – Short term

 

From time to time, the Company receives advances from related parties such as management, directors or principal shareholders in the normal course of business. Loans and advances received from related parties are unsecured and non-interest bearing. Balances outstanding to these persons for less than 12 months are presented under current liabilities in the accompanying consolidated financial statements. As of March 31, 2017 and 2016, the Company owed directors $361,785 and $163,738 respectively.

 

Due to Related Parties – Long term

 

Balances outstanding to related parties for more than 12 months are presented under long-term liabilities in the accompanying consolidated financial statements. Related party loan in the Balance Sheet of Duo Software Pte. Ltd was recognized at cost as of March 31, 2017, and at amortized cost as of March 31, 2016. As of March 31, 2017 and 2016, the Company owed directors $1,168,866 and $1,194,668 respectively.