Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 346

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 346
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       |          - |   |     |       |           - |   |     |                  |          - |   |     |             |           - |   |
| Change                                                                                                                                  
 in fair value of unsecured convertible note                                                                                             |     |           |          - |   |     |       |          - |   |     |       |           - |   |     |                  |    244,658 |   |     |             |           - |   |
| Issue                                                                                                                                   
 of derivative financial instruments                                                                                                     |     |           |          - |   |     |       |          - |   |     |       |           - |   |     |                  |          - |   |     |             |  13,422,022 |   |
| Change                                                                                                                                  
 in fair value of derivative financial instruments                                                                                       |     |           |          - |   |     |       |          - |   |     |       |           - |   |     |                  |          - |   |     |             |  (5,471,519 | ) |
| Balance                                                                                                                                 
 as of December 31, 2024                                                                                                                 |     | $         |          - |   |     | $     |          - |   |     | $     |           - |   |     | $                |  7,017,543 |   |     | $           |   7,950,503 |   |

During the three months and nine months ended December 31, 2024 and December 31, 2023, there were no non-recurring fair value measure of assets or liabilities subsequent to initial recognition.

<div align='center'>F-50

ZOOMCAR HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</div>

| 32 | Commitments       
 and contingencies |

Contingencies

(A) Claims filed by customers and third-parties not acknowledged as liability amounted to $4,075,587 and $4,565,949 as at December 31, 2024 and March 31, 2024, respectively. The claims made by the customers against the Company includes claims that have been made for amounts charged to customers by the Company as damages for improper use of vehicles and/or physical damages made to vehicles during an active trip ; or claims made by customers for unavailability of the booked vehicle or for any mechanical default in the booked vehicle ; or claims against any