Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 359

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 359
---
2021.

The Company has defaulted on the lumpsum payment that was due in January 2024 owed to Blacksoil Capital Private Limited for an amount of $ 335,052.

The Company has recorded an interest expense amounting to $ 64,635and $ 65,047for the year ended March 31, 2024 and March 31, 2023.

Term loans from NBFCs

Includes loans outstanding as at March 31, 2024 and March 31, 2023 of $ 3,976,093and $ 5,054,979. The Company entered into debt restructuring with certain NBFCs during the year ended March 31, 2022 which resulted in the revision of repayment schedules. The revised rate of interest ranges between 2% - 14.50% per annum. These loans were repayable in 36- 118monthly instalments after restructuring.

In the month of August 2021 there has been a restructuring agreement entered between the group and Volkswagen Finance wherein as per the revised terms the debt has been restructured in the form of upfront payment and revised repayment schedules. The repayment of sustainable debt starts from December 30, 2020 to September 30, 2023 and thereafter the unsustainable debt starting from 31 July 2023 to 31 August 2027. One time settlement payment shall be based on the liquidation of proceeds collected from sale of secured assets on completion of their useful life on or before 30 September 2023.

The Company has recorded an interest expense amounting to $ 396,502and $ 536,567for the year ended March 31, 2024 and March 31, 2023.

As of March 31, 2024, the Company continues to default on Equated Monthly Installment (“EMI”) for November 2023 to March 2024 owed to Kotak Mahindra Finance (Lender). The outstanding balance as of March 31, 2024 is $ 348,599(including $ 121,787for defaulted EMI). As per the restructuring agreement, in case of any default by the Company (Borrower), the Lender may issue Loan Recall notice thereafter the outstanding loan amount shall become payable immediately with penal interest of 1% per month.

The Company has defaulted on EMI for the months of January, February and March 2024 owed to Tata Motors Finance Limited for an amount of $ 136,325. As