Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 106

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 used Rs. 500,000,000 or $1,788,205 at March 31, 2025 and Rs. 500,000,000 or $1,796,558 at June
30, 2024. The interest rate for the loan was 10.0% and 17.5% at March 31, 2025 and June 30, 2024, respectively.

(5)The Company’s
subsidiary, NetSol PK, has a running finance facility with Askari Bank Limited, secured by NetSol PK’s assets. The total facility
amount is Rs. 4,050,937 or $14,488, at March 31, 2025. The balance outstanding at March 31, 2025 and June 30, 2024 was Rs. Nil. The interest
rate for the loan was 14.1% at March 31, 2025 and 22.2% at June 30, 2024.

This facility requires
                                                                                                                                                             NetSol PK to maintain a long-term debt equity ratio of 60:40 and a current ratio of 1:1. As of March 31, 2025, NetSol PK was in
                                                                                                                                                             compliance with this covenant.

(6)The Company’s
subsidiary, NetSol PK, has an export refinance facility with Samba Bank Limited, secured by NetSol PK’s assets. This is a revolving
loan that matures every nine months. The total facility amount is Rs. 380,000,000 or $1,359,036 and Rs. 380,000,000 or $1,365,384 at
March 31, 2025 and June 30, 2024, respectively. The interest rate for the loan was 10.0% and 17.5% at March 31, 2025 and June 30, 2024,
respectively.

During the tenure of the
                                                                                                                                                             loan, the facilities from Samba Bank Limited require NetSol PK to maintain at a minimum a current ratio of 1:1, an interest coverage
                                                                                                                                                             ratio of 4 times, a leverage ratio of 2 times, and a debt service coverage ratio of 4 times. As of March 31, 2025, NetSol PK was in
                                                                                                                                                             compliance with these covenants.

(7)The Company’s
subsidiary, NetSol PK, has