The disclosure says that Rosmerta Digital Services has filed a petition against Ola Electric at NCLT, Bengaluru alleging default in payment and initiating Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code.
On February 19, 2024, Ola Electric had said it was renegotiating contracts with its vehicle registration agencies, and flagged that this would temporarily affect registrations on the government’s vehicle registration portal. However, it had clarified that it did not forsee any negative impact on actual sales due to this process.
As per data from the website of Ministry of Road Transport and Highways, Ola sold 8,647 scooters in February. The EV startup, however, claims to have sold more than 25,000 units in that month.
Previously, sources at Ola Electric said that there was no discrepancy in actual sales in February, and that the February sales numbers would reflect in the vehicle registration data for March. As of March 13, Ola had clocked sales of 5,208 units.
Ola Electric is targeting a sales run rate of 50,000 units per month to become EBITDA positive.
Ola Electric has said that the company has sought appropriate legal advice, and it strongly disputes the claims made by Rosmerta. The company will take all necessary and appropriate steps to protect its interests and defend itself from Rosmerta’s allegations.
Rosmerta’s lawsuit comes even as Ola Electric faces a probe by the Central Consumer Protection Authority (CCPA). The authority has sought additional documents relating to over 10,000 consumer complaints filed against the company and its products.
(Edited by : Arvind Sukumar)
First Published: Mar 16, 2025 8:07 AM IST
