Property and Equipment, Net

12 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

8. Property and equipment, net

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


	As of March 31, 2024			As of March 31, 2023
Computers		660,504			370,516
Office equipment		422,046			153,432
Furniture & fixtures		162,851			69,338
Electrical equipment		30,972			6,312
Leasehold improvements		31,736			21,381
Total		1,308,109			620,979
Less: accumulated depreciation		(853,520	)		(388,486	)
Property and equipment, net		454,589			232,493

The Company capitalized $687,130 (net of disposal and CTA impact of $106 and $(1,180), respectively) and $59,568 (net of disposal and CTA impact of $137,230 and $43,496, respectively) for the year ended March 31, 2024 and as of March 31, 2023, 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. During the year ended March 31, 2024, the Company ceases to hold board control over Peoplebay

Consultancy Services Private Limited, FA Events & Media Private Limited with effect from October 1, 2023 and FA Premium Insurance Private Limited with effect from January 1, 2024, as a result property and equipment worth $73,641 have been derecognized. The Company capitalized $28,008 and $115,383 towards computers for the year March 31, 2024 and March 31, 2023, respectively. Depreciation expense relating to property and equipment amounted to $152,113 and $145,614 for the year March 31, 2024 and for March 31, 2023 respectively out of which $77,422 and $97,996 relate to computer for the year March 31, 2024 and March 31, 2023, respectively.