Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 42

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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ZOOMCAR HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

13Investments

The components of investments were as follows:

    (In USD)
As at 
    December 31,
 2024  
    March 31,
 2024 
  
    Long term investments 

    Investments in certificate of deposits* 
    $25,295  
    $91,947 

    $25,295  
    $91,947 

*Investments includes certificate of deposits and interest
accrued on the same.

14Other
non-current assets

The components of other non-current assets were as follows:

    (In USD)
                                                  As at
     
    December 31,
                                                                                2024

    March 31,
                                                                                2024

    Security deposits
     
    $
    554,993

    $
    350,149

    Restricted cash*

    200,000

    -

    Receivables from car sale

    446,619

    458,590

    Other non-current assets 
     
    $
    1,001,612

    $
    808,739

*Restricted cash represents amount held as an indemnification
escrow fund with the placement agent for all indemnification liabilities and expenses payable by the Company as per the placement agent
agreement for a period of 3 years from closing of the November 2024 Offering.

15Accounts
Payable

The components of other non-current assets were as follows:

    (In USD)
                                                  As at 
    December 31,
                                                                                2024  
    March 31,
                                                                                2024 

    Accounts payable towards related parties 
    $152,435  
    $152,435 
  
    Accounts Payable towards others* 
     20,639,479  
     14,279,152 

    Total Accounts Payable 
    $20,791,914  
    $14,431,587 

*The Company carried out negotiations with its vendors which resulted in
a short-term deferral in payments and/or reduction in outstanding liability. The Company has accounted for this transaction as troubled
debt restructuring under ASC 470-60 (Refer to Note 4) and includes provision for settlement of litigation (Refer to Note 33).

28

ZOOMCAR HOLDINGS, INC.

NOTES TO CON