The insolvency petitions against Ola Electric Technologies are only the latest in a series of troubles the company is facing. A Bloomberg News investigation recently found that over 95% of Ola’s 4,000 showrooms did not have the required approvals to display or sell unregistered vehicles. This led transport authorities in several states to conduct raids,…
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…
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.…
Home » General » Business » Ola Electric’s vendor moves NCLT over unpaid dues, seeks insolvency action New Delhi, March 16 (SocialNews.XYZ) A vendor of Ola Electric Mobility Limited — Rosmerta Digital Services Private Limited — has filed an insolvency petition against a wholly owned subsidiary of the electric two-wheeler maker over alleged non-payment of…
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,…
Ola Electric arm faces insolvency plea over ₹18-20 cr dues: Report | ‘The firm has sought appropriate legal advice’ | Inshorts Inshorts Read the original article here
GEORGE TOWN: Fire and Rescue Department personnel and a volunteer firefighting squad are still putting out the fire that engulfed an old factory at Jalan Patani on Sunday (March 16). Earlier, videos of the incident went viral on social media, depicting thick smoke billowing from the location and raising concerns among nearby road users. Penang…
Mar 16, 2025 12:52 PM IST The insolvency pleas have been filed over unpaid invoices by a unit of Ola Electric Mobility. A unit of billionaire Bhavish Aggarwal’s Ola Electric Mobility is facing two insolvency pleas from vehicle registration service providers over unpaid dues, Bloomberg reported. ₹25 crore.(Reuters)” title=”The two companies who have filed insolvency…
Once a frontrunner in the European eVTOL industry, German startup Volocopter may have found a financial lifeline through an acquisition by China-based Wanfeng Group. The €10-million (US$10.9-million) deal, disclosed in a recent stock exchange announcement, comes after Volocopter faced mounting financial difficulties that led to its insolvency. On March 10, Zhejiang Wanfeng Auto Wheel Co.,…
New Delhi, Mar 15 (PTI) Ola Electric Mobility Ltd on Saturday said its vehicle registration service provider Rosmerta Digital Services Ltd has sought the initiation of insolvency proceedings against its wholly owned arm Ola Electric Technologies Pvt Ltd. In a regulatory filing, the company said, “A petition has been filed under Section 9 of the…