Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 109

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 109
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    2028

    370,106

    0

    2029

    388,144

    0

    Total Lease Payments

    1,527,985

    4,891,354

    Less : Imputed Interest

    367,794

    875,662

    Total Lease Liabilities
     
    $
    1,160,191

    $
    4,015,692

Borrowings

The contractual commitment
amounts in the table below are associated with agreements that are enforceable and legally binding. Obligations under contracts that we
can cancel without a material penalty are not included in the table above.

    As at 
    December 31,
 2024 
  
    Current 

    - from NBFCs 

    - Mahindra & Mahindra Financial Services Limited 
    $538,695 
  
    - TATA Motors Finance Limited 
     1,921,963 
  
    - Kotak Mahindra Financial Services Limited 
     342,417 
  
    - Orix Leasing and Financial Services India LTD 
     83,327 
  
    - Clix Finance India Private Limited 
     86,790 

    $2,973,192 

Contingencies

The Company is subject to
legal proceedings and claims that arise in the ordinary course of business. The Company accrues for losses associated with legal claims
when such losses are probable and can be reasonably estimated. These accruals are adjusted as additional information becomes available
or circumstances change.

(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 similar issue faced by either the host or the customer. Under the erstwhile business model of the Company
, the Company had procured third-party insurance policies for fleet under its management which indemnifies against personal death and/or
injuries suffered either by the customer or third-parties during the use