Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 215

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 215
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-year term, except that the Class I directors are appointed to an initial one-year term (and
three-year terms subsequently), the Class II directors are appointed to an initial two-year term (and three-year terms subsequently) and
the Class III directors are appointed to an initial three-year term (and three-year terms subsequently). There is no cumulative voting
with respect to the election of directors, with the result that the holders of more than 50% of the shares voted for the election of directors
can elect all of the directors.

The Board is divided into the following
classes:

| ● | Class I, which consists of Swatick                                                           
 Majumdar and John Clarke, whose term will expire at our 2027 annual meeting of stockholders; |

| ● | Class II, which consists of Mohan Ananda and Madan Menon, whose terms will expire at our 2025 annual meeting of stockholders; and |

| ● | Class III, which consists of Evelyn D’An, whose term will expire at our 2026 annual meeting of stockholders. |

At our annual meeting of
stockholders to be held after the initial classification, the successors to directors whose terms then expire will be elected to serve
from the time of election and qualification until the third annual meeting following their election and until their successors are duly
elected and qualified. This classification of the Board may have the effect of delaying or preventing changes in our control or management.

Board Leadership Structure

Director Independence

Nasdaq listing rules require
that a majority of the board of directors of a company listed on Nasdaq be composed of “independent directors,” which is defined
generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship,
which, in the opinion of the company’s board of directors, would interfere with the director’s exercise of independent judgment
in carrying out the responsibilities of a director. The Company’s Board has determined that each of Evelyn D’An, Madan Menon,
Swatick Majumdar and John Clarke are independent directors under the Nasdaq listing rules and Rule 10A-3 of the Exchange Act. In making
these determinations, the Board considered the current and prior relationships that each non-employee director had with Zoomcar and has
with the Company and all other facts and circumstances the Board deemed relevant in determining independence, including the beneficial
ownership of our Common Stock by each non-employee director, and the transactions involving them