Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 356

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 356
---
 | 5,049,483 |
|:------------------------------------------|:----|:--|----------:|
| 2026                                      |     |   |         - |
| 2027                                      |     |   |         - |
| 2028                                      |     |   |         - |
| 2029                                      |     |   |         - |
| Thereafter                                |     |   |         - |
|                                           |     | $ | 5,049,483 |

| * | Maturities have been stated as per the respective agreements                                                                             
 with the financers. However, except for AON Premium Finance LLC, due to non-payment of scheduled EMIs, the loans are immediately payable 
 and are classified as current. These debts are not associated with any restrictive covenants.                                            |

| ** | Mahindra & Mahindra Financial Services Limited is a related                                                                               
 party till December 28, 2023, accordingly the outstanding balances as on March 31, 2024 with this related party has been disclosed under  
 Term loan from NBFC - Others. Further, fixed deposits amounting to $259,992 are marked as lien against the loan which is recognized under 
 ’Short term investments’ in the Consolidated Balance Sheet.                                                                               |

(This space has been left intentionally blank) F-88 ZOOMCAR HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| 16 | Debt        
 (Continued) |

Non-convertible debentures

| (a) | 7.7% Debenture |

The Company had issued Non Convertible Debentures to Blacksoil Capital Private Limited for a period of 36 months from the date of allotment i.e. April 16, 2019. The original issue of debentures was at a variable interest rate of MCLR + 2%, with MCLR at the date of signing being 12%. The debentures are secured against:

| 1) | First and exclusive charge on 100% assets purchased using the loans, |

| 2) | Post-dated                
 cheques from Company, and |

| 3) | Personal                                               
 guarantee of Mr. Gregory B Moran (CEO of the Company). |

In February 2021, the Company restructured the debt with the lender with a coupon rate of 10%. The effective interest rate pursuant to the restructuring is 7.7% per annum. The Company also received temporary moratorium until December