Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 342

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 342
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------|:--|-------:|:----|:--|-------:|
| Advance to director               |       | $ | 44,168 |     | $ | 19,682 |
| Other current assets with related 
 parties                           |       |   | 44,168 |     |   | 19,682 |

| 10 | Assets held for sale |

The components of assets held for sale were as follows:

| (In USD)                   | As at |   |   March 
     31, 
    2024 |     |   |   March 
     31, 
    2023 |
|:---------------------------|:------|:--|--------:|:----|:--|--------:|
| Vehicles                   |       | $ | 629,908 |     | $ | 923,176 |
| Total assets held for sale |       |   | 629,908 |     |   | 923,176 |

Vehicles represent the vehicles held for sale in Indian subsidiary, Zoomcar India Private Limited. The gain or loss on sale of these assets is included in Loss/ (gain) on sale of assets held for sale under Other (income)/expense of Consolidated Statement of Operations. During year ended March 31, 2024, total loss of $ 40,293was recorded against Loss/ (gain) on sale of vehicles held for sale (total profit of $ 1,737,794for year ended March 31, 2023). During the year ended March 31, 2024, the Company has recorded the impairment amount of $ 167,413($ 93,144for year ended March 31, 2023). The impairment amount is adjusted with Loss/ (gain) on sale of assets held for sale under Other (income)/expense of Consolidated Statement of Operations.

The Company is actively taking steps to liquidate these “Assets held for sale”, pending the capacity to foreclose loans and issue NOCs to buyers. The Company anticipates full asset sale completion by the third quarter of the calendar year 2024.

(This space has been left intentionally blank) F-80 ZOOMCAR HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| 11 | Property and equipment, net |

The components of property and equipment were as follows:

| (In USD)                          | As at |            | Estimated   
 useful life |   |      March 
        31,