Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 384

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 384
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| Derivatives not designated as hedging instruments under ASC 815-20 |     |                        |     |            |   |     |                        |     |            |            |
| Warrants issued against SSCPN                                      |     | NA                     |     | $          | - |     |                        |     | $          | 11,978,213 |
| Warrants issued to Placement agent                                 |     |                        |     |            | - |     | Derivative             
 financial              
 instrument             |     |            |  2,395,643 |
| Total                                                              |     |                        |     | $          | - |     |                        |     | $          | 14,373,856 |

The changes in fair value of warrants are being recognized under ‘Change in fair value of derivative financial instrument’ within the Consolidated Statement of Operations. See Note 33, Fair value measurements. The Company classifies cash flows related to derivative liabilities as financing activities in the Consolidated Statement of Cash Flows. On the close date of Reverse Recapitalization, these Warrants were reclassified to equity-classified common stock warrants (Refer Note 18).

| 36 | Commitments       
 and Contingencies |

Contingencies

(A) Claims filed against the Company by customers and third-parties not acknowledged as liability amounted to $ 4,565,949and $ 4,639,473as at March 31, 2024 and March 31, 2023, respectively. These claims have been made for personal injuries (customer and/or third parties) and amounts charged to customers by the Company as damages for improper use of vehicles and/or physical damages made to vehicles during an active trip. The Company has procured third- party insurance policies for fleet under its management which indemnifies against personal death and/or injuries suffered either by the customer or third- parties during the use of its vehicles. Based on the insurance coverage, the Company is confident that liability, if any, arising from these claims will be covered by the insurance. While uncertainties are inherent in the final outcome of these matters, the Company believes, that the disposition of these proceedings will not have a material adverse effect on the Company’s financial position, results of operations or cash flows.

(B) The Company has received various orders from time to time from Indian indirect tax authorities.

The Company has received an order disallowing input
credit taken on certain vehicles purchased for the period from July 2017 to July 2019 amounting to $