Annual and transition report of foreign private issuers pursuant to sections 13 or 15(d)

COMMITMENTS AND CONTINGENCIES

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COMMITMENTS AND CONTINGENCIES
12 Months Ended
Mar. 31, 2012
COMMITMENTS AND CONTINGENCIES  
COMMITMENTS AND CONTINGENCIES

(15)  COMMITMENTS AND CONTINGENCIES

 

Lease commitments

 

The Group entered into non-cancelable operating leases, primarily for office space, for initial terms of three to five years.

 

Minimum rent payments under operating leases are recognized on a straight-line basis over the term of the lease, including any periods of free rent.

 

Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) as of March 31, 2012 are:

 

 

 

Minimum

 

 

 

Lease Amount

 

 

 

RMB

 

Year ended:

 

 

 

March 31, 2013

 

6,081,036

 

March 31, 2014

 

3,935,597

 

March 31, 2015

 

226,511

 

March 31, 2016

 

 

March 31, 2017

 

 

 

 

10,243,144

 

 

Rental expense for operating leases (except leases with a term of one month or less that are not renewed) for the years ended March 31, 2010, 2011 and 2012 were RMB 5,485,788, RMB 5,446,033 and RMB 5,159,138 respectively.