Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 389

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 389
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     |   |         - |
| Thereafter                                  |     |   |         - |
|                                             |     | $ | 5,049,483 |

| *  | Maturities have been stated                                                                                                       
 as per the respective agreements with the financers. However, except for AON Premium Finance LLC, due to non-payment of scheduled 
 EMIs, the  loans are immediately payable and are classified as current. These debts are not associated with any restrictive       
 covenants.                                                                                                                        |
| ** | Mahindra                                                                                                                          
 & Mahindra Financial Services Limited is a related party till December 28, 2023, accordingly the outstanding balances as on March 
 31, 2024 with this related party has been disclosed under Term loan from NBFC - Others.                                           
 Further,                                                                                                                          
 fixed deposits amounting to $259,992 are marked as lien against the loan which is recognized under ‘Short term investments’       
 in the Consolidated Balance Sheet.                                                                                                |

<div align='center'>(This space has been left intentionally blank)

F-85

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| 16 | Debt (Continued) |

Non-convertible debentures

| (a) | 7.7% Debenture |

The Company had issued Non Convertible Debentures to Blacksoil Capital Private Limited for a period of 36 months from the date of allotment i.e. April 16, 2019. The original issue of debentures was at a variable interest rate of MCLR + 2%, with MCLR at the date of signing being 12%. The debentures are secured against:

| 1) | First and exclusive charge                
 on 100% assets purchased using the loans, |

| 2) | Post-dated cheques from 
 Company, and            |

| 3) | Personal guarantee of Mr.             
 Gregory B Moran (CEO of the Company). |

In February 2021, the Company restructured the debt with the lender with a coupon rate of 10%. The effective interest rate pursuant to the restructuring is 7.7% per annum. The Company also received temporary moratorium until December 30, 2021 along with extension in maturity term by twenty eight (28) months starting from 31 October 2021.

The Company has defaulted on the lumpsum payment that was due in January 2024 owed