Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1900

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 6
Chunk 1900
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 ranging from $120 to $300.

**Prior to the Reverse Recapitalization date, the SPAC issued
Public Warrants. On the Closing Date, there were 11,500,000 Public Warrants issued and outstanding where 2,000 warrants are exercisable
into 1 share of Common stock of the Company for $11,420 per share.

***The common stock, preferred stock and SSCPN warrants have
been converted into private warrants of the Company at the Exchange Ratio at the time of Reverse Recapitalization. As of March 31, 2025,
each warrant is exercisable into one share of Common Stock of the Company at an exercise price of $6,000 per share.

F-40

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

29Employee benefit plans (unfunded)

Employee benefit plans includes gratuity
and compensated absences payable to employees. These benefit plans consist of a defined benefit plan for gratuity payable by the Indian
subsidiary of the Company under Indian regulations. These are determined under the projected unit credit method, with actuarial valuations
being carried out at each reporting date. The retirement benefit obligations recognized in the Consolidated Balance Sheets represents
the present value of the defined obligations. Under an employee benefit plan, it is the Company’s obligation to provide agreed benefits
to the employees. The related actuarial and investment risks fall on the Company. The summary of current and non-current employee benefit
plans obligations along with its components are as below:

Pension and other employee obligations

    As at 
    March 31,
 2025  
    March 31,
 2024 
  
    Current 

    Gratuity 
    $82,547  
    $93,967 
  
    Compensated absences 
     70,325  
     89,688 

    $152,872  
    $183,655 
  
    Non-current 

    Gratuity 
    $221,961  
    $258,524 
  
    Compensated absences 
     170,062  
     232,925 
  
    Other statutory dues 
     2,007  
     - 

    $394,030  
    $491,449 

(This space has been left intentionally blank)

F-41

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATE