Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1576

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 4
Chunk 1576
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 stock;

    ●
    any immediate family member of any of the foregoing persons, which means any child, stepchild, parent, stepparent, spouse, sibling, mother-in-law, father-in-law, daughter-in-law, brother-in-law or sister-in-law of a director, officer or a beneficial owner of more than five percent (5%) of its voting stock, and any person (other than a tenant or employee) sharing the household of such director, officer or beneficial owner of more than five percent (5%) of its voting stock; and

    ●
    any firm, corporation or other entity in which any of the foregoing persons is a partner or principal or in a similar position or in which such person has a ten percent (10%) or greater beneficial ownership interest.

Zoomcar has policies and
procedures designed to minimize potential conflicts of interest arising from any dealings it may have with its affiliates and to provide
appropriate procedures for the disclosure of any real or potential conflicts of interest that may exist from time to time. Specifically,
pursuant to its charter, the audit committee will have the responsibility to review related party transactions.

All of the transactions described in this section were entered into
prior to the adoption of this policy. Certain of the foregoing disclosures are summaries of certain provisions of our related party agreements
and are qualified in their entirety by reference to all of the provisions of such agreements. Because these descriptions are only summaries
of the applicable agreements, they do not necessarily contain all of the information that you may find useful. Copies of certain of the
agreements (or forms of the agreements) have been filed as exhibits to this Annual Report on 10-Kand are available electronically on the
website of the SEC at www.sec.report.

Director Independence

Section 3.2 of the OTCQX
Rules for U.S. Companies (the “OTCQX Rules”), require that a minimum of two of the board of directors of a should be composed
of “independent directors,”. As per the OTCQX Rules the following persons shall not be considered independent: A) a director
who is, or at any time during the past three years was, employed by the Company; (B) a director who accepted or has a Family Member
who accepted any compensation from the Company in excess of $120,000 during any fiscal year within the three years preceding the determination
of independence, other than compensation for board or board committee service; compensation paid to a Family Member who is an employee