Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1921

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 6
Chunk 1921
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 accounting and finance department to provide more robust and comprehensive internal controls over financial reporting.

(v)We have properly concluded that ITGC controls over SAP (our
accounting software) are operating effectively as of March 31, 2025. We are in the midst of reviewing and implementing proper ITGC controls
in all other areas relevant to the preparation of the Company’s financial statements.

We intend to continue to
take steps to remediate the material weaknesses described above and further evolving our accounting processes. The actions we are taking
are subject to ongoing executive management review and are also subject to the oversight of the Audit Committee. We will not be able to
fully remediate these material weaknesses until these steps have been completed and have been operating effectively for a sufficient period
of time. If we are unable to successfully remediate these material weaknesses, or if in the future, we identify further material weaknesses
in our internal control over financial reporting, we may not detect errors on a timely basis and our consolidated financial statements
may be materially misstated.

Inherent Limitations on Effectiveness of
Controls

Our management, including
our Chief Executive Officer and Chief Financial Officer, believes that our disclosure controls and procedures and internal control over
financial reporting are designed to provide reasonable assurance of achieving their objectives and are effective at the reasonable assurance
level. However, management does not expect that our disclosure controls and procedures or our internal control over financial reporting
will prevent or detect all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable,
not absolute, assurance that the objectives of the control system are met. Because of the inherent limitations in all control systems,
no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the company have
been detected. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events,
and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time,
controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate.
Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

Item 9B. Other Information

Trading Arrangements

During the year ended March
31, 2025, none of our directors or officers (as defined in Rule 16a-1(f) promulgated