Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 266

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 266
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 per the placement agent
agreement for a period of 3 years from closing of the November 2024 Offering.

15Accounts
Payable

The components of other non-current assets were as follows:

    (In USD)
                                                  As at 
    December 31,
                                                                                2024  
    March 31,
                                                                                2024 

    Accounts payable towards related parties 
    $152,435  
    $152,435 
  
    Accounts Payable towards others* 
     20,639,479  
     14,279,152 

    Total Accounts Payable 
    $20,791,914  
    $14,431,587 

*The Company carried out negotiations with its vendors which resulted in
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 (Refer to Note 4) and includes provision for settlement of litigation (Refer to Note 33).

28

ZOOMCAR HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

16Debt

The components of long term and short term debt were as
follows:

  (In USD)
As at  Effective 
interest rates  Original 
Maturities*  December 31, 2024   March 31, 2024   Current                Non-convertible debentures                - 7.7% Debentures  -  November 15, 2024  $-   $335,549   - from non-banking financial companies (NBFCs)                  - from others (NBFCs)                  - Mahindra & Mahindra Financial Services Limited  -  February 28, 2025   538,695    873,924   - TATA Motors Finance Limited  12.77%  May 31, 2027   1,921,963    2,187,128   - Kotak Mahindra Financial Services Limited  1.00%  February 28, 2025   342,417    348,599   - Jain and Sons Services Limited  -