Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 34

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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00%
  
    Finance leases 
     9.00% 
     9.00%

The Company determines the incremental borrowing rate by adjusting
the benchmark reference rates, with appropriate financing spreads applicable to the respective geographies where the leases were entered
and lease specific adjustments for the effects of collateral.

26

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

    Three months
    ended  June 30, 2025  
    Year ended
 March 31, 2025 
  
    Maturities of lease liabilities are as follows:  
    Operating
 Leases  
    Finance
 Leases  
    Operating
 Leases  
    Finance
 Leases 
  
    2026  
    $251,986  
    $2,595,396  
    $337,044  
    $4,285,354 
  
    2027  
     352,315  
     913,347  
     353,429  
     - 
  
    2028  
     369,465  
     -  
     370,634  
     - 
  
    2029  
     387,474  
     -  
     388,699  
     - 
  
    Total Lease Payments  
    $1,361,240  
    $3,508,743  
    $1,449,806  
    $4,285,354 
  
    Less: Imputed Interest  
     295,842  
     474,578  
     331,069  
     318,392 
  
    Total Lease Liabilities  
    $1,065,398  
     3,034,165  
    $1,118,737  
    $3,966,962 

As at June 30,
2025, the Company continues to default on equated monthly installments (EMI) payments owed to Leaseplan India Private
Limited (Lender). In adherence to the agreement, the Company has accumulated penal interest at a simple interest rate of 1% per
month on the overdue EMIs for first 2 months of default and an additional simple interest of 1.5% per month is levied on the overdue
amount as it is continues to be unpaid