Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 826

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1C
Chunk 826
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warrants amounting to $5.28 million, SSCPN note issue expenses of $1.56 million, change in the fair value of Atalaya note $1.63 million
and discount on issue of Atalaya note amounting to $0.63 million during the year ended March 31, 2024, majority of which was converted
into equity at the close of deSPAC in the fiscal year ending March 31, 2024.These reductions were partially offset by $3.29 million in
Issuance cost towards common stock and warrants, $2.00 million interest on redeemable promissory notes, $0.42 million incremental other
borrowing cost and amortisation of discount and debt issuance cost on redeemable promissory notes amounting to $1.77 million incurred
during the year ended March 31, 2025, compared to the year ended March 31, 2024.

Gain on troubled debt restructuring

    For the Years Ended March 31, 

    2025  
    2024  
    Change  
    Change % 
  
    Gain on troubled debt restructuring 
     (1,171,161) 
     -  
     (1,171,161) 
     100%

Gain on troubled debt restructuring
during the year ended March 31, 2025 was $1.22 million vs Nil during the year ended March 31, 2024. The gain on troubled debt restructuring
was on account of debt restructurings and trade payable vendor restructurings.

71

Other expense/(income), net

    For the Years Ended March 31, 

    2025  
    2024  
    Change  
    Change % 
  
    Other expense (income), net 
     7,785,291  
     (11,316,471) 
     19,101 ,762  
     -169%
  
    Other (income) from related parties 
     -  
     (11,224) 
     11,224  
     -100%

Other expenses were $7.79 million during the year ended March 31, 2025,
versus other income of $11.33 million during the year ended March 31, 2024, an increase in expense of $19.11 million or 169%.

This increase in expenses is due to recognition