Ola Electric, a leading electric two-wheeler maker in India, is facing a legal battle with Rosmerta Digital Services Ltd, a company that provides vehicle registration services and high-security number plates. Rosmerta has approached the National Company Law Tribunal (NCLT) in Bengaluru, claiming that Ola Electric failed to pay dues of around Rs 18-20 crore. The company has requested the tribunal to start the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code (IBC).
In February 2025, Ola Electric announced that it was revising agreements with vehicle registration agencies, which temporarily disrupted registrations on the government’s portal. However, the company assured that this would not impact overall sales. Despite this, questions have emerged about its reported sales figures. The Ministry of Road Transport and Highways recorded 8,647 units sold in February, while Ola Electric claims it sold over 25,000 units. As of March 13, the company had registered 5,208 units and aims to reach a 50,000-unit monthly sales target to achieve EBITDA profitability.
Ola Electric has denied Rosmerta’s allegations and is preparing a legal response. Meanwhile, the company is also under investigation by the Central Consumer Protection Authority (CCPA), which has sought more details on over 10,000 consumer complaints. These issues have added to the growing regulatory challenges for the EV manufacturer.
Bringing you the latest updates on finance, economies, stocks, bonds, and more. Stay informed with timely insights.
Be First to Comment