Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 283

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 283
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 2025 has been taken as the grant
date as all the required conditions were satisfied on this date.

The
Company has registered 1,000,000 shares of common stock issuable to Mr. Deepankar Tiwari to induce the employee to accept employment
as the Company’s CEO and executed inducement award agreement. Such inducement awards granted to the CEO are outside of the 2023
Equity and Incentive Plan.

During the six months ended September
30, 2025, 500,000 restricted shares have been issued to Mr. Tiwari and stock based compensation expense of $390,583 pertaining to these
Restricted shares have been recorded in the Statements of Operations.

45

ZOOMCAR
HOLDINGS, INC.

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

26Related
Party Transactions

Key
managerial personnel (KMP)

  Gregory Bradford Moran Chief Executive Officer & Director (until June 20, 2024)  Hiroshi Nishijima Chief Executive Officer (until May 02, 2025)  Uri Levine Director (w.e.f. March 31, 2025)  Evelyn D’An Director  Graham Gullan Director (until June 18, 2024)  Swatick Majumdar Director  Mohan Ananda Director  Madan Menon Director (until April 16, 2025)  John Robert Clarke Director (w.e.f. June 20, 2024)  Mark Bailey Director (until December 06, 2024)  Deepankar Tiwari Chief Executive Officer (w.e.f May 09, 2025) 

Related
party transactions pertaining to debt, investments, and other current liabilities have been stated on the face of the Condensed Consolidated
Balance Sheets and Condensed Consolidated Statements of Operations.

The
Company had following transactions with related parties:

    Three months ended  September 30,  
    Six months ended  September 30, 

    2025  
    2024  
    2025  
    2024 
  
    Consultancy Charges 

    Deepankar Tiwari 
    $434,491  
    $-  
    $452,020  
    $- 

The Company has the following outstanding balances with related parties:  

    As at 
    30-Sep-25