Property and Equipment, Net

3 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

7. Property and equipment, net

The components of property and equipment, net were as follows:


	As of June 30, 2024			As of March 31, 2024
Computers		684,494			660,504
Office equipment		333,423			422,046
Furniture & fixtures		162,865			162,851
Electrical equipment		30,966			30,972
Leasehold improvements		31,716			31,736
Total		1,243,464			1,308,109
Less: accumulated depreciation		(998,402	)		(853,520	)
Property and equipment, net		245,062			454,589

The company disposed $64,645 (net of capitalization and CTA impact of $23,520 and $(1,421) respectively ) and capitalized $687,130 (net of disposal and CTA impact of $106 and $(1,180), respectively) for the period ended June 30, 2024 and for the year ended March 31, 2024 respectively out of which $396,123 is related to acquisition of FA Premium Insurance Broking Pvt. Ltd., Global Insurance Management Limited and National Automobile Club for the year March 31, 2024. During the year ended March 31, 2024, the Company ceases to hold board control over Peoplebay Consultancy Services Private Limited and FA Events & Media Private Limited with effect from October 01, 2023 and FA Premium Insurance Private Limited with effect from January 01, 2024, as a result property and equipment worth $73,641 have been derecognized. The Company capitalized $9,214 and $28,008 towards computers for the period ended June 30, 2024 and year ended March 31, 2024 respectively. Depreciation expense relating to property and equipment amounted to $31,155 and $152,113 for the period ended June 30, 2024 and year ended March 31, 2024 respectively out of which $9,117 and $77,422 relate to computer for the period ended June 30, 2024 and year ended March 31, 2024.