Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 369

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 369
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 lower of (i) the Conversion Price, and (ii) a % discount to the lowest VWAP over the 20 trading days immediately
preceding the applicable payment date or other date of determination, subject to the terms of the Note. The “Conversion Price”
of the Atalaya Note, immediately after the Original Note Issuance Date is $ ($ prior to Second Reverse Stock Split and $ prior
to First Reverse Stock Split), provided, however, that Conversion Price is subject to adjustment under various circumstances, including
in the event of a future issuance of Common Stock at a price that is lower than the then Conversion Price, and other circumstances, subject
in all cases to a conversion floor price of $ ($ prior to Second Reverse Stock Split and $ prior to First Reverse Stock Split)
(the “Conversion Floor”), provided, that if the Conversion Price or the Amortization Conversion Price is lower than the Conversion
Floor, the amount due to the holder of the Note upon an applicable Conversion Date shall be made in cash, in lieu of shares, unless otherwise
agreed by the Note Purchaser and the Company.

Additionally,
($ prior to Second Reverse Stock Split and prior to First Reverse Stock Split) registered and unrestricted shares of
Common Stock were issued and delivered to Midtown Madison Management LLC, the service provider of the Atalaya Note Purchaser. This was
accounted at the fair value of the shares issued amounting to $ in the Consolidated Statement of Operations.

(This space has been left intentionally blank) F- 93 ZOOMCAR HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| 21 | Other               
 current liabilities |

The components of other current liabilities were as follows:

(In USD)

|                           | As at |   |     March 
       31, 
      2024 |     |   |     March 
       31, 
      2023 |
|:--------------------------|:------|:--|----------:|:----|:--|----------:|
| Payable                   
 to renters                |       | $ |   576,052 |     | $ |   647,283 |
| Statutory dues payable    |       |   | 1,550,688 |     |   | 1,583,639 |
| Capital creditors         |       |   |     5,936 |     |   |    88,484 |
| Employee benefit expenses 
 payable                   |       |   |   320,360