Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 425

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 425
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 DGCL provides that directors of a corporation will
not be personally liable for monetary damages for breach of their fiduciary duties as directors, except for liability:

| ● | for any transaction from which                     
 the director derives an improper personal benefit; |

| ● | for any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law; |

| ● | for any unlawful payment of dividends or redemption of shares; or |

| ● | for any breach of a director’s duty of loyalty to the corporation or its stockholders. |

If the DGCL is amended to
authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of the directors will
be eliminated or limited to the fullest extent permitted by the DGCL, as so amended.

Delaware law and the registrant’s
Bylaws provide that the registrant will, in certain situations, indemnify its directors and officers and may indemnify other employees
and other agents, to the fullest extent permitted by law. Any indemnified person is also entitled, subject to certain limitations, to
advancement, direct payment, or reimbursement of reasonable expenses (including attorneys’ fees and disbursements) in advance of
the final disposition of the proceeding.

In addition, the registrant
has entered into indemnification agreements with all of the registrant’s executive officers and directors. These agreements, among
other things, require the registrant to indemnify its directors and officers for certain expenses, including attorneys’ fees, judgments,
fines, and settlement amounts incurred by a director or officer in any action or proceeding arising out of their services as one of its
directors or officers or any other company or enterprise to which the person provides services at its request.

Item 15. Recent sales of unregistered securities

Note:All share information relating to
the Company’s shares of Common Stock does not reflect the Reverse Splits.

Prior to and in connection
with consummating the Business Combination, the registrant issued securities to, among other parties, Ananda Trust, pursuant to the Ananda
Trust Signing Subscription Agreement and the Ananda Trust Closing Subscription Agreement, among other arrangements, to the IOAC Sponsor,
to certain Vendors in respect of transaction expenses, as consideration for services or pursuant to advisory agreements, and as otherwise
described above in relevant sections of this Report (such securities, collectively, the “Closing Issuances”).

In November 2024, the Company
also issued 1,302,850