Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 320

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 320
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,869 and $79,853 for the three months and nine months ended December 31, 2024 respectively ($38,791 and $130,028 respectively for three months and nine months ended December 31, 2023). Vehicles are pledged against debt from financial institutions.

<div align='center'>F-26

ZOOMCAR HOLDINGS, INC.

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

| 12 | Leases |

The Company’s leases primarily include vehicles and corporate offices which have been classified as finance leases and operating leases, respectively. The lease term of operating and finance leases varies between 3 to 7 years. The lease agreements do not contain any covenants to impose any restrictions except for market-standard practice for similar lease arrangements. In assessment of the lease term, the Company considers the extension option as part of its lease term for those lease arrangements where the Company is reasonably certain of availing the extension option.

| The components of lease expense were as follows: |     |              |         |     |      |         |     |              |           |     |      |         |
| (In USD)                                         |     |        Three 
 months ended 
 December 31, |         |     |      |         |     |         Nine 
 months ended 
 December 31, |           |     |      |         |
| Period ended                                     |     |         2024 |         |     | 2023 |         |     |         2024 |           |     | 2023 |         |
| Finance lease cost:                              |     |              |         |     |      |         |     |              |           |     |      |         |
| Amortization of right-of-use assets              |     |            $ |       - |     |    $ |       - |     |            $ |         - |     |    $ |       - |
| Interest on lease liabilities                    |     |              | 180,841 |     |      | 152,659 |     |              |   448,050 |     |      | 469,140 |
| Operating lease cost                             |     |              |  85,570 |     |      | 127,399 |     |              |   280,140 |     |      | 387,681 |
| Short term lease cost                            |     |              | 328,932 |     |      |  43,