As of December 31, 2023, no shares of convertible preferred stock were outstanding. In view of losses, cumulative dividend of $477,101 in respect of Preferred stock of Roadzen (DE) (Series A and A1 stock) was not provided as of March 31, 2023.

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. Rent expenses for operating leases for the period ended December 31, 2023 was $69,489. The components of lease cost for the period ended December 31, 2023 are summarized below:

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
December 31,
2023

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

Operating cash flows from operating leases

59,437

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

Operating Assets

557,117

iii)

Balance sheet information related to leases is as follows:


Particulars	As of December 31, 2023
Operating Leases:
Operating Lease ROU Asset, net		868,391
		—
Short term liabilities		423,710
Long term liabilities		246,743
Total operating lease liabilities		670,453

iv)

Weighted Average Remaining Lease Term (In years)

         
        As of
December 31,
2023

Operating leases

5.20

Weighted Average Discount Rate


	As of December 31, 2023
Operating leases		12.72	%

vi)

Maturities of lease liabilities were as follows:


Particulars	Lease Liabilities (USD)*
For Period Ended December 31 2023
2024		436,030
2025		122,249
2026		124,193
2027		67,548
2028		12,472
Thereafter		33,577
Total Lease Payments		796,069
Less: Imputed Interest		(125,616	)
Total		670,453

* The lease liabilities are translated into U.S. Dollars using the closing rate for the period ended December 31, 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
December 31,
2023

Operating lease cost

Short-term lease cost

Total lease cost