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DUE TO RELATED PARTIES, NET
6 Months Ended
Sep. 30, 2012
Due To Related Parties, Net [Abstract]  
Due to Related Parties Net Disclosure [Text Block]

NOTE 11 – DUE TO RELATED PARTIES, NET

 

As of September 30, 2012 and March 31, 2012 the Company had amounts due to related parties in the amounts of $6,636,324 and $4,357,530 respectively, consisting primarily of trade payables due to Starlight affiliates. As of September 30, 2012 and March 31, 2012 the Company had amounts due from related parties in the amounts of $960,442 and $162,863 respectively, consisting primarily of trade receivables due from Starlight affiliates. As of April 1, 2012 Starlight Electronics Company, Ltd (related-party company) began charging interest on the current year intercompany trade payables that are past due at a rate of 4.5% per annum. For the six months ended September 30, 2012 and September 30, 2011, the Company incurred interest expense in the amounts of $5,575 and $0, respectively.