Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 73

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 73
---

    $- 
  
    Shares issued to Atalaya Note holders 

     -  

    Change in fair value of unsecured convertible note 

     390,218  

    Balance as of September 30, 2024 
    $-  
    $-  
    $-  
    $6,772,885  
    $- 
  
    Shares issued to Atalaya Note holders 
     -  
     -  
     -  
     -  
     - 
  
    Change in fair value of unsecured convertible note 
     -  
     -  
     -  
     244,658  
     - 
  
    Issue of derivative financial instruments 
     -  
     -  
     -  
     -  
     13,422,022 
  
    Change in fair value of derivative financial instruments 
     -  
     -  
     -  
     -  
     (5,471,519)
  
    Balance as of December 31, 2024 
    $-  
    $-  
    $-  
    $7,017,543  
    $7,950,503 

During the three months and nine months ended December 31,
2024 and December 31, 2023, there were no non-recurring fair value measure of assets or liabilities subsequent to initial recognition.

49

ZOOMCAR HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS (UNAUDITED)

32Commitments and contingencies

Contingencies

(A) Claims filed by customers
and third-parties not acknowledged as liability amounted to $4,075,587 and $4,565,949 as at December 31, 2024 and March 31, 2024, respectively.
The claims made by the customers against the Company includes claims that have been made for amounts charged to customers by the Company
as damages for improper use of vehicles and/or physical damages made to vehicles during an active trip ; or claims made by customers for
unavailability of the booked vehicle or for any mechanical default in the booked vehicle ; or claims against any similar issue faced by
either the host or the customer. Under the erstwhile business model of the Company , the Company had procured third-party insurance policies
for