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Accounts Payable and Accrued Expenses | 6 Months Ended
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Sep. 30, 2024
Payables and Accruals [Abstract] |
Accounts Payable and Accrued Expenses | 10. Accounts payable and accrued expenses
|  |  |  |  | As of September 30, 2024 |  |  | As of March 31, 2024 |
Accounts payable |  |  |  |  |  | 20,353,769 |  |  |  | 22,795,847 |
Accrued expenses |  |  |  |  |  | 5,686,066 |  |  |  | 5,916,896 |
Amounts due to employees |  |  |  |  |  | 1,010,211 |  |  |  | 860,895 |
Due to insurer |  |  |  |  |  | 7,084,470 |  |  |  | 8,918,849 |
|  |  |  |  |  | 34,134,516 |  |  |  | 38,492,487 |
1) Accounts Payable includes certain Accounts Payable assumed by Roadzen (DE) in connection with the Business Combination amounting to $1 5,730,405 and $17,422,094 as of September 30, 2024 and March 31, 2024 respectively. Accrued expenses included the amount of $0.31 million on account of interest due but not paid. 2) Amount due to employees consists of reimbursements and salaries payable. The total includes related parties balance of $177,267 and $95,971 as of September 30, 2024 and as of March 31, 2024, respectively. 3) Accounts payable includes $2.5 million owed to Marco Polo Securities with whom the Company entered into a definitive agreement on July 18, 2024 to convert these accounts payable into equity in the Company by issuing additional shares at the greater of $2.80 and the 30 trading-day trailing Volume-Weighted Average Price (“VWAP”) as reported by Bloomberg at the close of trading on the 33rd trading day after the day that Roadzen Inc filed with the Securities and Exchange Commission, its Form 10-Q for the first quarter of its fiscal 2025. As the VWAP did not reach $2.80 per share, the $2.5 million liability will be exchanged for 892,857 Ordinary Shares.

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