EV company Ola Electric’s shares fell by about 6% on Monday following a petition filed by Rosmerta Digital Services under Section 9 of the Insolvency and Bankruptcy Code against its EV-making unit.
Ola Electric’s shares hit a 52-week low of Rs 47.59 apiece as of 10:14 AM today.
On Saturday, the Bhavish Aggarwal-led company informed stock exchanges that one of its operational creditors, Rosmerta Digital Services, has filed a petition before the National Company Law Tribunal – Bengaluru Bench alleging default in payments towards services rendered.
In February, the company said it was renegotiating its terms of agreement with Rosmerta Digital Services and Shimnit India Private Ltd to reduce costs and help enhance registration…
