Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 505

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1A
Chunk 505
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Company hold a variable interest and are the primary beneficiary. Company is the primary beneficiary because it has the power to direct
the activities of a VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the
VIE that potentially could be significant to the VIE and the right to receive benefits from the VIE that potentially could be significant
to the VIE (benefits). As a result, we consolidate the assets and liabilities of these consolidated VIEs.

The VIEs have been incorporated in their respective locations
to perform the business of providing mobility solutions to consumers and businesses.

The following table summarizes the assets and liabilities
related to the Company’s consolidated VIEs:

    March 31,
 2025  
    March 31,
 2024 
  
    Assets 

    Cash and Cash equivalents 
    $2,878  
    $11,888 
  
    Accounts receivable 
    $-  
    $7,341 
  
    Other current assets 
    $391  
    $3,868 
  
    Prepaid expenses 
    $-  
    $4,282 
  
    Property and equipment, net 
    $-  
    $41,849 
  
    Intangible assets, net 
    $-  
    $3,012 
  
    Long term Investments 
    $3,991  
    $4,112 
  
    Receivable from government authorities - non-current 
    $0  
    $18,126 

    Liabilities 

    Accounts payable 
    $383,355  
    $374,692 
  
    Contract Liabilities 
    $-  
    $3,755 
  
    Current portion of pension and other employee obligations 
    $80  
    $986 
  
    Other current liabilities 
    $141,164  
    $148,950 
  
    Pension and other employee obligations, less current portion 
    $-  
    $1,189 

Nature of investment in the VIEs is
as follows:

  Name of the VIE entity   Place of incorporation   Nature of investment   Investor entity                 Zoomcar Egypt Car Rental LLC***   Egypt   Debt   Zoomcar Netherlands Holding B.V   Zoomcar Egypt Car Rental LLC***   Egypt   Debt   Zoomcar Inc.  Fleet Mobility Philippines Corporation *   Philippines   Debt   Zoomcar Inc.  Zoomcar Vietnam