Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 415

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 415
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The VIEs included in Consolidated Financial Statements are separate legal entities and their assets are legally owned by them and are not available to the Company’s creditors or creditors of the Company’s other subsidiaries.

Nature of, and changes (if any) in, the risks associated with a reporting entity’s involvement with the VIE

In case of all the entities, the reporting entity is exposed to foreign currency exchange risk of the subsidiaries since the subsidiaries are incorporated in countries other than the country in which the reporting entity has been incorporated.

Further, Zoomcar Netherlands Holding B.V has advanced loan to Zoomcar Egypt Car Rental LLC. Accordingly, Zoomcar Netherlands Holding B.V is exposed to the credit risk of Zoomcar Egypt Car Rental LLC.

<div align='center'>F-104

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| 34 | Financial Instruments     
 - Fair Value Measurements |

ASC Topic 820, “Fair Value Measurements and Disclosures” (“ASC 820”) defines fair value as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value should be calculated based on assumptions that market participants would use in pricing the asset or liability as against assumptions specific to the entity. In addition, the fair value of liabilities should include consideration of non-performance risk, including the Company’s own credit risk.

The carrying value of financial instruments not carried at fair value by categories are as below:

|                                        |     |          |  March 31, 
       2024 |     |          |  March 31, 
       2023 |
|:---------------------------------------|:----|:---------|-----------:|:----|:---------|-----------:|
| As at                                  |     | Carrying 
 value    |            |     | Carrying 
 value    |            |
| Financial assets                       |     |          |            |     |          |            |
| Cash and cash equivalents              |     | $        |  1,794,639 |     | $        |  3,686,741 |
| Accounts receivable                    |     |          |    194,197 |     |          |    255,175 |
| Receivable from government authorities |     |          |    445,828 |     |          |  4,211,143 |
| Long