Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 3216

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 8
Chunk 3216
---
 owned by them and are not available to the Company’s creditors
or creditors of the Company’s other subsidiaries.

F-47

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

32Variable Interest Entities (Continued) 

Nature of, and changes (if any) in,
the risks associated with a reporting entity’s involvement with the VIE

In case of all the entities, the reporting
entity is exposed to foreign currency exchange risk of the subsidiaries since the subsidiaries are incorporated in countries other than
the country in which the reporting entity has been incorporated.

Further, Zoomcar Netherlands Holding
B.V has advanced loan to Zoomcar Egypt Car Rental LLC. Accordingly, Zoomcar Netherlands Holding B.V is exposed to the credit risk of Zoomcar
Egypt Car Rental LLC.

33Financial
Instruments - Fair Value Measurements

ASC Topic 820, “Fair Value Measurements
and Disclosures” (“ASC 820”) defines fair value as the price that would be received upon sale of an asset or paid upon
transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous
market for that asset or liability. The fair value should be calculated based on assumptions that market participants would use in pricing
the asset or liability as against assumptions specific to the entity. In addition, the fair value of liabilities should include consideration
of non-performance risk, including the Company’s own credit risk.

The carrying value of financial instruments
not carried at fair value by categories are as below:

    As at 
    March 31, 2025  
    March 31, 2024 

    Carrying value  
    Carrying value 
  
    Financial assets 

    Cash and cash equivalents 
    $1,077,275  
    $1,496,144 
  
    Accounts receivable 
     200,650  
     194,197 
  
    Short term investments 
     -  
     298,495 
  
    Receivable from government authorities 
     187,458  
     445,828 
  
    Long term investments 
     25,653  
     91,947 
  
    Other financial assets 
     365,433  
     656,767 
  
    Total assets 
    $1,856,469  
    $3,183,378 
  
    Financial liabilities 

    Accounts payable 
    $12,548,