Ola Electric subsidiary faces insolvency as operational creditor alleges non-payment of dues

Ola Electric Mobility Ltd has confirmed that its wholly owned subsidiary, Ola Electric Technologies Pvt Ltd, is facing an insolvency petition filed by its vehicle registration service provider, Rosmerta Digital Services Ltd. The petition, submitted under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), has been brought before the National Company Law Tribunal…

Ola’s Vehicle Registration Provider Files Insolvency Plea Against The Company

Rosmerta Digital Services, a service provider and creditor of Ola Electric, has filed for insolvency after alleging the electric two-wheeler manufacturer defaulted in payments. Rosmerta is responsible for handling vehicle registrations at various regional transport offices (RTOs) across the country.  The insolvency plea has been filed at the National Company Law Tribunal’s (NCLT’s) Bengaluru branch.…

Analysis: Textile giant Sritex shuts down, leaving over 10,000 workers jobless – Academia

T Sri Rejeki Isman (Sritex), one of Southeast Asia’s largest integrated textile manufacturers, officially ceased operations on Mar. 1, 2025, following its bankruptcy declaration. The shutdown led to the layoff of 10,965 workers between January and February 2025. In response, President Prabowo has instructed several ministers to devise solutions to help re-employ the affected workers,…