NETSOL Technologies, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 17 - Non-Controlling Interest In Subsidiary

Note 17 - Non-Controlling Interest In Subsidiary

3 Months Ended

Sep. 30, 2011

Noncontrolling Interest Disclosure [Text Block]

NOTE 17 – NON-CONTROLLING INTEREST IN SUBSIDIARY

The Company had non-controlling interests in several of its subsidiaries. The balance of non-controlling interest was as follows:

SUBSIDIARY	Non Controlling Interest %			Non-Controlling Interest at September 30, 2011

NetSol PK		39.48	%	$	11,097,960
NetSol-Innovation		49.90	%		1,122,423
Total				$	12,220,383

SUBSIDIARY	Non Controlling Interest %			Non-Controlling Interest at June 30, 2011

NetSol PK		39.48	%	$	11,531,694
NetSol-Innovation		49.90	%		968,790
Total				$	12,500,484

(A) NETSOL TECHNOLOGIES, LIMITED (“NETSOL PK”)

For the three months ended September 30, 2011 and 2010, NetSol Technologies Ltd. (“NetSol PK”) had net loss of ($99,918) and net income of $2,031,123. The related non-controlling interest was ($39,448) and $853,884, respectively.

(B) NETSOL INNOVATION (PRIVATE) LIMITED (“NETSOL INNOVATION”)

For the three months ended September 30, 2011 and 2010, NetSol Innovation (Private) Limited (“NetSol Innovation”) had net income of $354,119 and $241,731. The related non-controlling interest was $176,705 and $120,624, respectively.

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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