Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 277

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 277
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 to First Reverse Stock Split) as a result of these gains. F-22 ZOOMCAR HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

| 5 | Cash                 
 and cash equivalents |

The components of cash and cash equivalents were as follows:

| (In USD)                  | As at |   | December 31, 
         2024 |     |   | March 31, 
      2024 |
|:--------------------------|:------|:--|-------------:|:----|:--|----------:|
| Balances in bank accounts |       | $ |    4,396,189 |     | $ | 1,495,097 |
| Cash                      |       |   |        1,184 |     |   |     1,047 |
| Cash and cash equivalents |       | $ |    4,397,373 |     | $ | 1,496,144 |

| 6 | Accounts                                           
 receivable, net of allowance for doubtful accounts |

The components of accounts receivable were as follows:

| (In                         
 USD)                        | As at |   | December 31, 
         2024 |   |     |   | March 31, 
      2024 |   |
|:----------------------------|:------|:--|-------------:|:--|:----|:--|----------:|:--|
| Accounts receivable         |       | $ |      110,542 |   |     | $ |   207,971 |   |
| Allowance for credit losses |       |   |      (13,414 | ) |     |   |   (13,774 | ) |
| Net accounts receivable     |       | $ |       97,128 |   |     | $ |   194,197 |   |

The Company records an allowance for credit losses for
amounts owed for completed transactions that may never settle or be collected. For the three months and nine months ended December 31,
2024, allowance amounting to $NIL and $NIL was created for expected credit losses respectively (March 31, 2024 : $).

| 7 | Balances                    
 with government authorities |

The components of balances with government authorities were as follows:

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