Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 190

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1
Chunk 190
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 pay fixed coupon interest @10% p.a. on
the revised outstanding amount for the period starting October 31, 2024 till December 15, 2024 (“Long stop date”). As of March
31, 2025, the Company has fully repaid its outstanding liability to the lender.

The Company has accounted for this transaction as troubled
debt restructuring under ASC 470-60. The gain on troubled debt restructuring recorded during the year ended March 31, 2025 is $82,970.

Term Loans with Others

During the year ended March 31, 2025, the Company has entered into
settlement agreements with Mercury Car Rentals Limited and Jain and Sons Services Limited, wherein the lenders have waived a portion of
the outstanding liability amounting to $31,684 and $17,739 respectively. As of March 31, 2025, the Company has $NIL balance (March 31,
2024 $249,560) with Mercury Car Rentals Limited and $NIL balance (March 31, 2024 $47,992) with Jain and Sons Services Limited.

The Company has accounted for these transactions as troubled
debt restructuring under ASC 470-60. The gain on troubled debt restructuring recognized during the year ended March 31, 2025, amounted
to $31,684 for Mercury Car Rentals Limited and $17,739 for Jain and Sons Services Limited.

Accounts Payable

During the year ended March 31, 2025, the Company carried
out negotiations with its vendors and as per the revised agreements with the vendors, they have granted a short-term deferral in payments
and/or reduction in outstanding liability.

The Company has accounted for this transaction as troubled
debt restructuring under ASC 470-60. The Company has recorded a net gain on troubled debt restructuring in the Consolidated Statements
of Operations during the year ended March 31, 2025 amounting to $1,038,758 respectively.

The total gain on troubled debt restructuring recorded during the year
ended March 31, 2025 amounts to $1,171,161. Basic EPS was increased by $2.37 ($47.39 prior to Second Reverse Stock Split and $4,738.89
prior to First Reverse Stock Split) as a result of these gains.

F-23

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

5Cash
and cash equivalents

The components of cash and cash