Shares of Ola Electric Mobility Ltd. fell as much as 6% on Monday, March 17, after a high security number plate manufacturer and vehicle registration agency sued the company for defaulting on payments. With this, the stock fell below the mark of ₹50 apiece.
Ola Electric, in an exchange filing over the weekend, mentioned that it had been sued by Rosmerta Digital Services Ltd., which filed a petition against the company at the National Company Law Tribunal (NCLT), Bengaluru, and also petitioned to initiate Corporate Insolvency proceedings against the company.
In response, Ola Electric said the company had sought appropriate legal advice, and it strongly disputes the claims made by Rosmerta
. The company will take all necessary and…
