Zoomcar Holdings Inc. Dismisses Grant Thornton Bharat LLP Over Internal Control Weaknesses in Financial Reporting

Reuters08-02

Zoomcar Holdings Inc. Dismisses Grant Thornton Bharat LLP Over Internal Control Weaknesses in Financial Reporting

Zoomcar Holdings Inc. has announced a change in its certifying accountants, dismissing Grant Thornton Bharat LLP as its independent registered public accounting firm, effective immediately. This decision, approved by the company's Audit Committee, was disclosed on July 29, 2025. Despite no disagreements over accounting principles or practices with GT Bharat, Zoomcar identified a significant internal control issue. The company's management determined that internal control over financial reporting was not effective due to material weaknesses, notably ineffective controls over the independent review and documentation of third-party advisors' reports. This issue was highlighted in their Annual Report on Form 10-K for the fiscal year ending March 31, 2025. Zoomcar is in the process of engaging a new independent accounting firm to address these concerns.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Zoomcar Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-070632), on August 01, 2025, and is solely responsible for the information contained therein.

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