{"id":831031,"date":"2025-03-28T06:17:43","date_gmt":"2025-03-28T10:17:43","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc\/"},"modified":"2025-03-28T06:17:43","modified_gmt":"2025-03-28T10:17:43","slug":"notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc\/","title":{"rendered":"NOTICE TO POTENTIAL CREDITORS OF ZCAR: Morris Kandinov LLP Announces Investigation Of Zoomcar Holdings Inc."},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p>\nNOTICE TO POTENTIAL CREDITORS OF ZCAR: Morris Kandinov LLP Announces Investigation Of Zoomcar Holdings Inc.\n<\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nThe law firm of Morris Kandinov LLP announces that it is investigating the insolvency of Zoomcar Holdings Inc. (\u201cZoomcar\u201d or the \u201cCompany\u201d) (NASDAQ: ZCAR) in connection with its disclosed defaults on multiple debt obligations owed to multiple lenders. The Company has disclosed that, since at least November 2023, it has been in violation of scheduled lease payment obligations to Ayvens Group, which has (i) initiated the process of repossession of all vehicles and (ii) invoked a bank guarantee granted by Zoomcar. Further, as of December 31, 2024, the Company has defaulted on multiple other debt obligations totaling over $1 million owed to various lenders, including Kotak Mahindra Finance, Tata Motors Finance Limited, Mahindra &amp; Mahindra Financial Services Limited, and Clix Finance India Private Limited. In addition, the Company has defaulted on a convertible note executed with ACM Zoomcar Convert LLC, which has filed litigation in the Supreme Court of the State of New York, Index No. 655910\/2024, seeking, among other things, approximately $5.6 million in principal, $341,746 in interest, and additional costs and attorneys\u2019 fees. The Company last reported cash and cash equivalents of approximately $4.3 million.\n<\/p>\n<p>\nPotential creditors of Zoomcar are encouraged to contact Morris Kandinov LLP to discuss the Company\u2019s use and allocation of cash and other assets while the Company has been unable to meet its obligations to lenders, noteholders and other parties. The firm\u2019s investigation is focusing on the duties owed by the Company and its officers and directors to creditors, including potentially improper payments and transfers under U.S. bankruptcy and securities laws.\n<\/p>\n<p>\nMorris Kandinov LLP is a national law firm that represents individuals and institutions in cases involving fraud and fiduciary misconduct.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250328458417r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250328458417\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250328458417\/en\/<\/a><\/span><\/p>\n<p>\nFor further information, contact:<br \/>\n<br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fmoka.law%2Fattorney%2Faaron-morris%2F&amp;esheet=54230117&amp;newsitemid=20250328458417&amp;lan=en-US&amp;anchor=Aaron+Morris&amp;index=1&amp;md5=4e6ef6b12159a9a80fb0a30b0577aa54\">Aaron Morris<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fmoka.law%2F&amp;esheet=54230117&amp;newsitemid=20250328458417&amp;lan=en-US&amp;anchor=Morris+Kandinov+LLP&amp;index=2&amp;md5=efc9e4b140fd2c36571bf855e53ed010\">Morris Kandinov LLP<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"mailto:aaron@moka.law\">aaron@moka.law<br \/>\n<\/a><br \/>(212) 431-7473\n<\/p>\n<p><b>KEYWORDS:<\/b> United States India North America Asia Pacific New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Class Action Lawsuit Professional Services Legal<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250328458417\/en\/2422759\/3\/moka_press_release_thumbnail.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>NOTICE TO POTENTIAL CREDITORS OF ZCAR: Morris Kandinov LLP Announces Investigation Of Zoomcar Holdings Inc. NEW YORK&#8211;(BUSINESS WIRE)&#8211; The law firm of Morris Kandinov LLP announces that it is investigating the insolvency of Zoomcar Holdings Inc. (\u201cZoomcar\u201d or the \u201cCompany\u201d) (NASDAQ: ZCAR) in connection with its disclosed defaults on multiple debt obligations owed to multiple lenders. The Company has disclosed that, since at least November 2023, it has been in violation of scheduled lease payment obligations to Ayvens Group, which has (i) initiated the process of repossession of all vehicles and (ii) invoked a bank guarantee granted by Zoomcar. Further, as of December 31, 2024, the Company has defaulted on multiple other debt obligations totaling over $1 million owed to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;NOTICE TO POTENTIAL CREDITORS OF ZCAR: Morris Kandinov LLP Announces Investigation Of Zoomcar Holdings Inc.&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-831031","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NOTICE TO POTENTIAL CREDITORS OF ZCAR: Morris Kandinov LLP Announces Investigation Of Zoomcar Holdings Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NOTICE TO POTENTIAL CREDITORS OF ZCAR: Morris Kandinov LLP Announces Investigation Of Zoomcar Holdings Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NOTICE TO POTENTIAL CREDITORS OF ZCAR: Morris Kandinov LLP Announces Investigation Of Zoomcar Holdings Inc. NEW YORK&#8211;(BUSINESS WIRE)&#8211; The law firm of Morris Kandinov LLP announces that it is investigating the insolvency of Zoomcar Holdings Inc. (\u201cZoomcar\u201d or the \u201cCompany\u201d) (NASDAQ: ZCAR) in connection with its disclosed defaults on multiple debt obligations owed to multiple lenders. The Company has disclosed that, since at least November 2023, it has been in violation of scheduled lease payment obligations to Ayvens Group, which has (i) initiated the process of repossession of all vehicles and (ii) invoked a bank guarantee granted by Zoomcar. Further, as of December 31, 2024, the Company has defaulted on multiple other debt obligations totaling over $1 million owed to &hellip; Continue reading &quot;NOTICE TO POTENTIAL CREDITORS OF ZCAR: Morris Kandinov LLP Announces Investigation Of Zoomcar Holdings Inc.&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-28T10:17:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250328458417r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"NOTICE TO POTENTIAL CREDITORS OF ZCAR: Morris Kandinov LLP Announces Investigation Of Zoomcar Holdings Inc.\",\"datePublished\":\"2025-03-28T10:17:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc\\\/\"},\"wordCount\":353,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20250328458417r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/notice-to-potential-creditors-of-zcar-morris-kandinov-llp-announces-investigation-of-zoomcar-holdings-inc\\\/\",\"name\":\"NOTICE TO POTENTIAL CREDITORS OF ZCAR: Morris Kandinov LLP Announces Investigation Of Zoomcar Holdings Inc. - 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NEW YORK&#8211;(BUSINESS WIRE)&#8211; The law firm of Morris Kandinov LLP announces that it is investigating the insolvency of Zoomcar Holdings Inc. (\u201cZoomcar\u201d or the \u201cCompany\u201d) (NASDAQ: ZCAR) in connection with its disclosed defaults on multiple debt obligations owed to multiple lenders. The Company has disclosed that, since at least November 2023, it has been in violation of scheduled lease payment obligations to Ayvens Group, which has (i) initiated the process of repossession of all vehicles and (ii) invoked a bank guarantee granted by Zoomcar. 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