In view of losses, cumulative dividend in respect of preferred stock of Predecessor Roadzen (Series A and A1 stock) not provided for $0 and $477,101 as of September 30, 2023 and March 31, 2023 respectively.

The Company leases office space under non-cancelable operating lease agreements, which expire on various dates through April 2031. Some property leases contain extension options exercisable by the Company. The lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease cost for the period ended September 30, 2023 are summarized below:

Rent expense for operating leases for the period ended September 30, 2023 was $54,536.

The following tables presents the various components of lease costs:

ii)

The following table presents supplemental information relating to the cash flow and non cash flows arising from lease transactions. Cash payments related to short-term leases are not included in the measurement of operating liabilities, and, as such, are excluded from the amounts below.

Particulars

For the
period ended
September 30,
2023

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases

52,594

Right-of-use assets obtained in exchange for lease obligations:

Operating Assets

578,899

iii)

Balance sheet information related to leases is as follows:


Particulars	As of September 30, 2023 (Unaudited)
Operating Leases:
Operating Lease ROU Asset, net		918,940
		—
Other current liabilities		455,830
Operating lease liabilities		272,089
Total operating lease liabilities		727,919

iv)

Weighted Average Remaining Lease Term (In years)

As of
September 30,
2023

Operating Leases

5.20

Weighted Average Discount Rate


	As of September 30, 2023 (Unaudited)
Operating Leases		12.72	%

vi)

Maturities of lease liabilities were as follows:


Particulars	Lease Liabilities (USD)*
For Period Ended September 30:
2024		469,702
2025		131,939
2026		123,346
2027		93,655
2028		15,419
Thereafter		36,323
Total Lease Payments		870,384
Less: Imputed Interest		(142,465	)
Total		727,919

* The lease liabilities are translated into U.S. Dollars using the closing rate for the period ended September 30, 2023

From time to time, the Company may be subject to other legal proceedings, claims, investigations, and government inquiries (collectively, "Legal Proceedings") in the ordinary course of business. It may receive claims from third parties asserting, among other things, infringement of their intellectual property rights, defamation, labor and employment rights, privacy, and contractual rights. There are no currently pending Legal Proceedings that the Company believes will have a material adverse impact on the business or consolidated financial statements.

In the ordinary course of business, the Company enters into contractual arrangements under which the Company agrees to provide indemnification of varying scope and terms to customers, business partners, and other parties with respect to certain matters, including losses arising out of intellectual property infringement claims made by third parties, if the Company has violated applicable laws, if the Company is negligent or commits acts of willful misconduct, and other liabilities with respect to its products and services and its business. In these circumstances, payment is typically conditional on the other party making a claim pursuant to the procedures specified in the particular contract. To date, the Company has not incurred any material costs as a result of such indemnifications and has not accrued any liabilities related to such obligations in its consolidated financial statements.

Particulars

For the
period ended
September 30,
2023

Operating lease cost

Short-term lease cost

Total lease cost