Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 284

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 284
---
 the November 2024 Offering.                                                           |

| 15 | Accounts 
 Payable  |

The components of accounts payable were as follows:

|                                          | (In USD) 
 As at    |   | December 31, 
         2024 |     |   |  March 31, 
       2024 |
|:-----------------------------------------|:---------|:--|-------------:|:----|:--|-----------:|
| Accounts payable towards related parties |          | $ |      152,435 |     | $ |    152,435 |
| Accounts Payable towards others*         |          |   |   20,639,479 |     |   | 14,279,152 |
| Total Accounts Payable                   |          | $ |   20,791,914 |     | $ | 14,431,587 |

| * | The Company carried out negotiations with its vendors which resulted in                                                                 
 a short-term deferral in payments and/or reduction in outstanding liability. The Company has accounted for this transaction as troubled 
 debt restructuring under ASC 470-60 (Refer to Note 4) and includes provision for settlement of litigation (Refer to Note 33).           |

(This space has been left intentionally blank) F-28 ZOOMCAR HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

| 16 | Debt |

The components of long term and short term debt were as
follows:

| (In USD)                                         
 As at                                            |     |      Effective 
 interest rates |   | Original           
 Maturities*        |     | December 31, 
 2024         |           |     | March 31, 
 2024      |           |
|:-------------------------------------------------|:----|---------------:|:--|:-------------------|:----|:-------------|----------:|:----|:----------|----------:|
| Current                                          |     |                |   |                    |     |              |           |     |           |           |
| Non-convertible debentures                       |     |                |   |                    |     |              |           |     |           |           |
| - 7.7% Debentures                                |     |              - |   | November 15, 2024  |     | $            |         - |     | $         |   335,549 |
| - from non-banking financial companies (