Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 3189

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 8
Chunk 3189
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 expenses payable by the Company as per the placement agent
agreement for a period of 3 years from closing of the November 2024 Offering.

**The Company has recorded bad debts against receivable
from car sale amounting to $452,014 during the year ended March 31, 2025.

16Accounts Payable

The components of accounts payable were as follows:

    (In USD) As at 
    March 31, 2025  
    March 31, 2024 
  
    Current 

    Accounts payable towards related parties 
    $152,435  
    $152,435 
  
    Accounts Payable towards others* 
     12,396,147  
     14,279,152 
  
    Total Accounts Payable 
    $12,548,582  
    $14,431,587 

*During the year ended March 31, 2025, the Company carried out
negotiations with its vendors which resulted in a short-term deferral in payments and/or reduction in outstanding liability. The Company
has accounted for this transaction as troubled debt restructuring under ASC 470-60 (Refer to Note 4).

(This space has been left intentionally blank)

F-30

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

17Debt

The components of long term and short term debt
were as follows:

  (In USD) As at  Effective interest rates   Original Maturities*  March 31, 2025   March 31, 2024   Current                 Non-convertible debentures                 - 7.7% Debentures   -   November 15, 2024  $-   $335,549   From others                    - Mahindra & Mahindra Financial Services Limited   -   June 30, 2025   439,415    873,924   - TATA Motors Finance Limited   12.64%  May 31, 2027   1,749,415    2,187,128   - Kotak Mahindra Financial Services Limited   1.00%  June 30, 2025   376,861    348