Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1299

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 3
Chunk 1299
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     388,699  
     - 
  
    2030 
     -  
     - 
  
    Total Lease Payments 
    $1,449,806  
    $4,285,354 
  
    Less : Imputed Interest 
     331,069  
     318,392 
  
    Total Lease Liabilities 
    $1,118,737  
    $3,966,962 

During the year ended March 31, 2025, the Company entered into re-structuring
agreements with Orix Leasing and Financial Services India Limited (Orix) and recorded a gain on modification of lease amounting to $760
in the Consolidated Statement of Operations. Under the restructured terms with Orix, the Company was to pay 50% of the outstanding liability
by November 25, 2024, with the remaining 50% due in 12 monthly installments at 12% interest, starting January 15, 2025. If the Company
defaults, the entire liability, plus 18% annual compounded interest, will be due after a 15-day grace period. As of March 31, 2025, the
Company has fulfilled all payment obligations under the restructured terms. Refer Note 26.

As at March 31, 2025, the Company continues to
default on equated monthly installments (EMI) payments owed to Leaseplan India Private Limited (Lender). In adherence to the agreement,
the Company has accumulated penal interest at a simple interest rate of 1% per month on the overdue EMIs, amounting to $225,142 for the
year ended March 31, 2025.

As per the terms of the agreement, an additional simple interest of 1.5% per month is levied on the overdue amount as it is still unpaid
after 60 days from date of default.

Further, during the year ended March 31, 2025, the Company recorded a loss on modification of lease amounting to $457,474 in the Consolidated
Statement of Operations due to changes in future lease payments as per the repayment schedule. Refer note 26.

F-28

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

13Intangible Assets

The components of intangible assets, were as follows:

  (In USD) As at     March 31, 202