Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 142

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 142
---
unctive         
 relief and passed an order to prevent issuance of securities to insiders and allowing Claimants to attach Company’s assets up to              
 $3,500,000 if, and only if, located in New York. No further action has been taken as JAMS arbitration panel is yet to be appointed. The       
 claimants have filed a case in New York County Supreme Court for seeking relief in aid of the arbitration claim to secure potential recovery. 
 On June 18, 2024, the parties agreed to defer all further action with respect to the arbitration and associated litigation until June         
 18, 2025. Zoomcar is examining its legal options with respect to the Claim and the Court action. The Company believes that the claims         
 are baseless and there was no breach of agreements as alleged.                                                                                |

| (E) | The Company received a notice                                                                                                            
 from Nasdaq on November 6, 2024 stating that the Company has still not regained compliance with the Rule 5450 (b)(2)(A). Accordingly,    
 its securities will be delisted from The Nasdaq Global Market. In that regard, unless the Company requests an appeal of Staff’s          
 determination to a Hearings Panel, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series, trading of the Company’s 
 common stock and warrants will be suspended at the opening of business on November 15, 2024 and the Company’s securities will be         
 removed from listing and registration on The Nasdaq Stock Market. Furthermore, on October 29, 2024, the Staff notified the Company that  
 it did not comply with Listing Rule 5450(b)(1)(B), which requires that the Company’s ordinary shares maintain a minimum of 1,100,000     
 publicly held shares for continued listing. This matter serves as a separate and additional basis for delisting.                         |

As of date the Company has regained compliance with the minimum 1.1 million publicly held shares requirement in Listing Rule 5450(b)(1)(B). The Company requested a hearing before a Nasdaq Hearings Panel seeking an extension to comply with the requirements of Rule 5450(b)(2)(A). The Panel has granted an extension to comply with the requirements of the said rule until March 31, 2025. 83

| (F) | On November 1, 2024, Gregory Moran,                                                                                                     
 a former employee of Zoomcar India, has filed a case with the Superior Court, Delaware