As of March 31, 2024, 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 respectively.

The Company leases office space under non-cancellable 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 expense for operating leases for the period ended March 31, 2024 was $260,116. The components of lease cost for the period ended March 31, 2024 is summarized below:

(i) 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
March 31,
2024

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

Operating cash flows from operating leases

210,042

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

Operating Assets

415,141

(iii) Balance sheet information related to leases are as follows:

        Particulars

        As of
March 31,
2024

        Operating Leases:

Operating Lease ROU Asset, net

822,327

Short term liabilities

358,802

Long term liabilities

268,856

Total operating lease liabilities

627,658

(iv) Weighted Average Remaining Lease Term (In years)

         
        As of
March 31,
2024

Operating leases

5.93

(v) Weighted Average Discount Rate


	As of March 31, 2024
Operating leases		12.62	%

(vi) Maturities of lease liabilities were as follows:


Particulars	Lease Liabilities (USD)*
For Period Ended March 31 2024
2025		368,092
2026		134,054
2027		135,628
2028		51,052
2029		20,750
Thereafter		69,482
Total Lease Payments		779,058
Less: Imputed Interest		(151,400	)
Total		627,658

*The lease liabilities are translated into U.S. Dollars using the closing rate for the period ended March 31, 2024

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 wilful 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
March 31,
2024

Operating lease cost

Short-term lease cost

Total lease cost