Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 285

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 285
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 the three and nine months ended December 31, 2024 ($ 9,523and $ 31,609for the three and nine months ended December 31, 2023).

| (2) | Term loans from NBFCs |

Includes loans outstanding as at December 31, 2024 and March 31, 2024 amounting to $ 2,973,192and $ 4,713,936, respectively.

The Company has recorded an interest expense amounting to $ 68,067and $ 220,282for the three and nine months ended December 31, 2024 ($ 100,243and $ 294,872for the three and nine months ended December 31, 2023).

As of December 31, 2024, the Company has defaulted on debt obligations, totaling $ 1,070,281, owed to various lenders, including Kotak Mahindra Finance, Tata Motors Finance Limited, Mahindra & Mahindra Financial Services Limited, and Clix Finance India Private Limited. The Company has also recorded a penal interest expense amounting to $ 25,051and $ 112,635for the three and nine months ended December 31, 2024 ($ 5,157and $ 5,157for the three and nine months ended December 31, 2023). The Company is in negotiations or has entered into settlement agreements with these lenders to restructure payment terms and resolve outstanding claims.

During the nine months ended December 31, 2024, the Company entered into settlement agreements with Mercury Car Rentals Limited and Jain and Sons Services Limited, resulting in waiver of partial liabilities. These transactions were accounted for as troubled debt restructuring under ASC 470-60 (Refer to Note 5), and all outstanding amounts owed to these lenders were fully repaid by December 31, 2024.

F-31 ZOOMCAR HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

| 16A | Redeemable Promissory Note |

On June 18, 2024, the Company entered into a Securities Purchase Agreement with certain institutional accredited investors pursuant to which the Company issued and sold an aggregate of $ 3,600,000in principal amount of notes and warrants to purchase up to an aggregate of 1,267,728shares ( 52,966,102prior to Reverse Stock Split) of Company Common Stock for gross proceeds of $