Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1336

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 3
Chunk 1336
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 awaiting the Court’s ruling on the appeal.

(D) On June 6, 2025, the Company entered into settlement arrangements
with certain accredited investors, pursuant to which the Company agrees to issue an aggregate of 1,950,600 pre-funded warrants with a
total value of $3,023,400 to the investors, in full settlement of liquidated damages claims. These Settlement Warrants, exercisable at
$0.0001 per share, were valued based on the volume-weighted average price of the Company’s common stock over the five trading days
preceding the settlement date. 

 The warrants are exercisable at any time (including cashless exercise), subject to beneficial ownership limitations (4.99% or 9.99%) and include customary terms for anti- dilution adjustments and participation in future corporate actions. The settlement releases the Company from all related claims under the applicable agreements.

(E) During June 2025, the final award
in the Arbitration with Dbest was passed where the claims filed by the Company were rejected. Accordingly, the balance receivable from
Dbest of $452,014 has been recorded as bad debts in the Consolidated Statements of Operations for the year ended March 31, 2025. 

(F) On June 23, 2025, the Company issued a bridge note to certain investors
totaling $402,000 at a discount of $42,000. The note is repayable in five monthly installments beginning November 30, 2025, and maturing
on March 31, 2026, with interest accruing at 12% per annum on the outstanding principal. The Company received net proceeds of $350,000
after adjusting issuance cost of $10,000.

F-53

Item 9. Changes in and Disagreements With Accountants
on Accounting and Financial Disclosures

None.

Item 9A. Controls and Procedures

a) Evaluation of Disclosure Controls and Procedures

Our disclosure controls and
procedures are designed to ensure that information we are required to disclose in reports that we file or submit under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) is recorded, processed, summarized, and reported within the time periods
specified in SEC rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive
Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

Our management, with the