Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 383

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 383
---
-current based upon their expected 
 utilization period.                                                                                                                      |

| 8 (a) | Short term investments |

The components of short term investments were as follows:

| (In USD)                 
 As at                    |     | March 
 31,   
 2024  |         |     | March 
 31,   
 2023  |   |
|:-------------------------|:----|:------|--------:|:----|:------|:--|
| Certificate of deposits* |     | $     | 298,495 |     | $     | - |
| Short term investments   |     |       | 298,495 |     |       | - |

| * | In April 2024, Lease Plan                                                                                                                 
 India Private Limited invoked the bank guarantee provided as bank guarantee during the restructuring process, resulting in the adjustment 
 of a certificate of deposit amounting to $127,609. However, as of March 31, 2024, the event has considered probable and thus, certificate 
 of deposits has been adjusted against the outstanding liability of Lease Plan India Private Limited as of balance sheet date (Refer       
 Note 12).                                                                                                                                 |

Further, certificate of deposits amounting to $259,992 with Mahindra and Mahindra Financial Services are under lien against debt availed. These were presented under “Short term investments with related parties” and “Investments with related parties” as on March 31, 2023. (Refer Note 8(b) and 14(b)).

| 8 (b) | Short term investments 
 with related parties   |

The components of short term investments were as follows:

(In USD)

| As at                             |     | March 
 31,   
 2024  |   |     | March 
 31,   
 2023  |         |
|:----------------------------------|:----|:------|:--|:----|:------|--------:|
| Certificate                       
 of deposits with related parties* |     |       | - |     |       | 166,540 |
| Short term investments            |     |       | - |     |       | 166,540 |

Further, these deposits are under lien against debt availed from the party.

<div align='center'>(This space has been left intentionally blank)

F-78

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| 9 (a) | Other current assets |

The