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

Quarterly report pursuant to Section 13 or 15(d)

Note 18 - Non-Controlling Interest In Subsidiary

Note 18 - Non-Controlling Interest In Subsidiary

9 Months Ended

Mar. 31, 2012

Noncontrolling Interest Disclosure [Text Block]

NOTE 18 – 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 March 31, 2012

NetSol PK		39.48	%	$	11,848,860
NetSol-Innovation		49.90	%		960,123
VLS		49.00	%		775,140

Total				$	13,584,123

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

For the nine months ended March 31, 2012 and 2011, NetSol PK had net income of $3,229,747 and $7,596,360. The related non-controlling interest was $1,275,104 and $2,999,043, respectively.

(B) NETSOL INNOVATION (PRIVATE) LIMITED

For the nine months ended March 31, 2012 and 2011, NetSol Innovation had net income of $788,053 and $721,766. The related non-controlling interest was $393,238 and $360,161, respectively.

For the period ended March 31, 2012, VLS had a net loss of $66,246. The related 49% non-controlling interest was $32,460.

- 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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