Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 400

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 400
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 Atalaya Note, immediately after the Original Note Issuance Date is $1,000 ($10 prior to Reverse Stock Split), provided, however, that Conversion Price is subject to adjustment under various circumstances, including in the event of a future issuance of Common Stock at a price that is lower than the then Conversion Price, and other circumstances, subject in all cases to a conversion floor price of $25 ($0.25 prior to Reverse Stock Split) (the “Conversion Floor”), provided, that if the Conversion Price or the Amortization Conversion Price is lower than the Conversion Floor, the amount due to the holder of the Note upon an applicable Conversion Date shall be made in cash, in lieu of shares, unless otherwise agreed by the Note Purchaser and the Company.

Additionally, 1,640 (164,000 prior to Reverse Stock Split) registered and unrestricted shares of Common Stock were issued and delivered to Midtown Madison Management LLC, the service provider of the Atalaya Note Purchaser. This was accounted at the fair value of the shares issued amounting to $492,000 in the Consolidated Statement of Operations.

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F-90

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| 21 | Other current liabilities |

The components of other current liabilities were as follows:

(In USD)

|                                   | As at |   |     March 
       31, 
      2024 |     |   |     March 
       31, 
      2023 |
|:----------------------------------|:------|:--|----------:|:----|:--|----------:|
| Payable to renters                |       | $ |   576,052 |     | $ |   647,283 |
| Statutory dues payable            |       |   | 1,550,688 |     |   | 1,583,639 |
| Capital creditors                 |       |   |     5,936 |     |   |    88,484 |
| Employee benefit expenses payable |       |   |   320,360 |     |   |   379,167 |
| Other liabilities                 |       |   |   330,582 |     |   |   234,459 |
| Other current liabilities         |       |   | 2,783,618 |     |   | 2,933,032 |

| 22