ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)

9 Months Ended

Dec. 31, 2019

ACCRUED EXPENSES AND OTHER LIABILITIES

Schedule of accrued expenses and other liabilities

	December 31,		March 31,
	2019		2019
	(Unaudited)
Payables to investors of online lending platform (i)	$	3,983,877	$	—
Accrued payroll and welfare		861,072		614,765
Other payable (ii)		278,324		247,335
Loan repayments received on behalf of financial institutions (iii)		189,572		169,657
Payables for expenditures on automobile transaction and related services		110,172		157,382
Accrued expenses		156,671		198,456
Deposits		453,198		82,232
Other taxes payable		—		30,976
Total accrued expenses and other liabilities		6,032,886		1,500,803
Total accrued expenses and other liabilities - discontinued operations		(4,549,953)		(538,512)
Total accrued expenses and other liabilities - continuing operations	$	1,482,933	$	962,291

(i) The balance of payables to investors of online lending platform represented the outstanding loans from investors on the platform, which was assumed by the Company in connection with the Plan to discontinue its online lending services business.

(ii) The balance of other payable represented amount due to suppliers and vendors for operation purposes.

(iii) The balance of loan repayments received on behalf of financial institutions represented the loan repayments made by the automobile purchasers to financial institutions through the Company, which has not been paid to the financial institutions.