Zoomcar Holdings Inc.
04/21/2026 | Press release | Distributed by Public on 04/21/2026 15:29
Material Event (Form 8-K)
Item 8.01. Other Events.
On April 14, 2026, the Supreme Court of the State of New York, County of New York, issued an Order to Show Cause with Temporary Restraining Order in the matter of Reimer Family Partnership, L.P. et al. v. Zoomcar Holdings, Inc. (Index No. 651695/2026).
The order includes a temporary restraining order ("TRO") stating that, pending a hearing, the Company and persons acting in concert with it are restricted from taking certain actions, including:
| ● | Seeking or obtaining stockholder approval to increase authorized shares; |
| ● | Issuing shares in connection with a proposed warrant exchange; |
| ● | Consummating a proposed private placement or related equity financing; |
| ● | Issuing shares of common stock to insiders, officers, directors, or affiliates (including proposed issuances to the Company's Chairman); |
| ● | Effecting a reverse stock split; and |
| ● | Transferring or dissipating assets other than in the ordinary course of business. |
The court has scheduled a hearing on the Order to Show Cause for May 7, 2026.
The Company is evaluating the order and TRO, including their potential impact on the Company's financing transactions and operations, and is considering all available options and responses.
The Company is evaluating the order and its potential impact, including on its financing transactions and operations, and intends to take appropriate legal action in response including application for an emergency stay and/or vacatur of the Temporary Restraining Order.
Zoomcar Holdings Inc. published this content on April 21, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 21, 2026 at 21:29 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]