Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 287

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 287
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324,696.

The principal balance of the Atalaya Note was $ 8,434,605(amount received $ 7,802,009). As of December 31, 2024 and March 31, 2024, the fair value of the Atalaya Note of $ 7,017,543and $ 10,067,601, was recorded in the Condensed Consolidated Balance Sheets for their respective periods. The change in fair value resulted in loss of $ 244,658and gain of $ 725,362that is recorded for the three months and nine months ended December 31, 2024 ($ NILand $ NILfor three months and nine months ended December 31, 2023) in the Condensed Consolidated Statements of Operations (as no portion of such fair value adjustment resulted from instrument-specific credit risk). 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-33 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 |     |   |