Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 382

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 382
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 |
| Advance to director (net)              |     |          |           |     |          |           |
| Gregory Bradford Moran                 |     |          |    44,168 |     |          |    19,682 |
|                                        |     |          | 2,224,443 |     |          | 1,351,753 |

| 33 | Variable          
 Interest Entities |

An entity is a VIE if it has any of the following characteristics:

| ● | The                                                                                          
 entity does not have enough equity to finance its activities without additional subordinated 
 financial support.                                                                           |

| ● | The                                                                                       
 equity holders, as a group, lack the characteristics of a controlling financial interest. |

| ● | The                                                                                   
 entity is structured with non-substantive voting rights (i.e., an anti-abuse clause). |

We consolidate VIEs in which Company hold a variable interest and are the primary beneficiary. Company is the primary beneficiary because it has the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that potentially could be significant to the VIE and the right to receive benefits from the VIE that potentially could be significant to the VIE (benefits). As a result, we consolidate the assets and liabilities of these consolidated VIEs.

The VIEs have been incorporated in their respective locations to perform the business of providing mobility solutions to consumers and businesses.

F- 106 ZOOMCAR HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| 33 | Variable                      
 Interest Entities (Continued) |

The following table summarizes the assets and liabilities related to the Company’s consolidated VIEs:

|                                               |     |   |    March 
 31, 2024 |     |   |    March 
 31, 2023 |
|:----------------------------------------------|:----|:--|---------:|:----|:--|---------:|
| Assets                                        |     |   |          |     |   |          |
| Cash and Cash equivalents                     |     | $ |   11,888 |     | $ |   50,498 |
| Accounts receivable                           |     |   |    7,341 |     |   |  100,691 |
| Other current assets                          |     |   |    3,868 |     |   |   14,279 |
| Prepaid expenses                              |