Ola Electric has described the matter as a commercial dispute, saying it had already initiated legal action against the suppliers over alleged quality issues with the components.
Electric two-wheeler maker Ola Electric is facing fresh insolvency proceedings after two of its component suppliers moved the National Company Law Tribunal (NCLT), alleging payment defaults of around ₹40 crore.
In separate petitions filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, Sterling E-Mobility Solutions Ltd., the EV components arm of listed Sterling Tools Ltd., and Anevolve Mando eMobility Pvt. Ltd., part of the Anand Group, have sought the initiation of the Corporate Insolvency Resolution…