Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 289

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 289
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 Also, Refer Note 31.

The Company is liable to pay liquidated damages to the
note holders, owing to breach of certain conditions as prescribed by the agreement. However, there is no visibility on the amount of such
damages, henceforth, no provision has been booked for the same.

During the period ended December 31,
2024, the Company received notices from Atalaya regarding equity line transactions and incurring debt without the Purchaser’s consent.
Under the Atalaya Note, any default would make all accrued interest, liquidated damages, and other amounts immediately due in cash. The
Company is in discussions with Atalaya to resolve this matter and has classified all payments due to Atalaya as a current liability.

F-32 ZOOMCAR HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

| 19 | Other current liabilities |

The components of other current liabilities were as follows:

|                                   | (In USD) 
 As at    |   | December 31, 
         2024 |     |   | March 31, 
      2024 |
|:----------------------------------|:---------|:--|-------------:|:----|:--|----------:|
| Payable to renters                |          | $ |      482,987 |     | $ |   576,052 |
| Statutory dues payable            |          |   |    1,560,108 |     |   | 1,550,688 |
| Capital creditors                 |          |   |        5,781 |     |   |     5,936 |
| Employee benefit expenses payable |          |   |      194,804 |     |   |   320,360 |
| Other liabilities*                |          |   |      631,476 |     |   |   330,582 |
| Other current liabilities         |          | $ |    2,875,156 |     | $ | 2,783,618 |

| * | Includes payables related to operating leases and the residual value of vehicles 
 acquired from Leaseplan India Private Limited.                                   |

| 20 | Accumulated other comprehensive income/ (loss) |

The components of accumulated other comprehensive income/(loss)
were as follows:

|                                                                                         | (In USD) 
 As at    |   | December 31, 
         2024 |   |     |   |   March