Looked at Q2-18 results:
Company raised additional ~25 Cr of long term debt at Indian entity level to fund the acquisition (probably additional payout for cornerstone advisory acquisition done in May-17). I am not sure why the company would borrwo at 8K Miles India and give loan to US subsidiary (8K Miles Inc.) to acquire Cornerstone Advisory, given the fact that 8K Miles Inc. is only ~65% owned by 8K Miles India. This is like giving the benefits of acquisition to the remaining 35% minority shareholders of 8K Miles US (erstwhile promoters of previously acquired companies) at the cost of 8K Miles India shareholders (as 8K Miles India shareholders will be bearing the cost of debt)
Extending the first point, consolidated accounts have Rs. 120 Cr of Cash (mostly in the US subsidiary) and still company is raising debt at parent Indian company to fund the acquisition at US subsidiary company. This looks quite strange.
Although not material, standalone Trade Receivables are now at Rs. 36 Cr which is ~3 times their quarterly revenue run rate (Rs. 13 Cr revenue in Sept-17 quarter). Not sure what is going on receivable side.