Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 267

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 267
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  December 31, 2024   -    47,992   - Mercury Car Rentals Private Limited  -  November 30, 2024   -    249,560   - Orix Leasing and Financial Services India LTD  12.00%  December 31, 2025   83,327    156,370   - Clix Finance India Private Limited  4.11%  July 2, 2025   86,790    124,931   Financing arrangement with-                  - AON Premium Finance LLC  -  September 28, 2024   -    725,430                               $2,973,192   $5,049,483  

    Total maturity as of December 31, 2024 

    Year ending March 31, 

    2025 (January 1, 2025 till March 31, 2025) 
    $2,909,457 
  
    2026 
     63,735 
  
    2027 
     - 
  
    2028 
     - 
  
    2029 
     - 
  
    Thereafter 
     - 

    $2,973,192 

*Maturities have been stated as per the respective agreements
with the financiers. For Tata Motors Finance Limited, due to non-payment of scheduled EMIs, the loan is immediately payable and is classified
as current. The debts are not associated with any restrictive covenants.

29

ZOOMCAR HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(1)Non-convertible
debentures

(i)7.7% Debenture

On
September 25, 2024, the Company entered into a settlement agreement with Blacksoil Capital Private Limited, wherein the lender
waived 25% of the outstanding amount. As of December 31, 2024, the Company had fully repaid its liability to the lender. This
transaction was accounted for as troubled debt restructuring under ASC 470-60 (Refer to Note 4), resulting in a net gain of $NIL and
$83,