Ola Electric Technologies, a subsidiary of Ola Electric Mobility Ltd, is being petitioned for insolvency by two vehicle registration service providers – Rosmerta Digital Services Pvt and Rosmerta Safety Systems – due to unpaid dues. This adds to the challenges facing the electric vehicle manufacturer.
Rosmerta Digital Services alleges Ola Electric Technologies owes them over ₹22 crore, while Rosmerta Safety Systems demands nearly ₹2.5 crore. Ola Electric confirmed the insolvency plea against its subsidiary by Rosmerta Digital Services at the National Company Law Tribunal in Bengaluru. The company disputes the claims and seeks legal counsel.
Ola Electric is revising its vehicle registration approach, prompting insolvency petitions. The company plans to renegotiate contracts with service providers like Rosmerta Digital and Shimnit India Pvt. CEO Bhavish Aggarwal shared recently that the registration process will become internal. This shift may impact vendor relations and future contract talks.
Insolvency petitions against Ola Electric Technologies are the latest in a series of troubles. A recent Bloomberg News investigation revealed that over 95% of Ola’s showrooms lack the needed approvals to display or sell unregistered vehicles. This prompted transport authorities in multiple states to raid showrooms, shut outlets, seize vehicles, and serve notices to the company.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
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