Ola Electric share prices traded at their lowest since listing after news that two suppliers had filed an insolvency petition with the NCLT in Bengaluru, alleging non-payment of dues amounting to a cumulative ₹22.5 crore. Ola Electric has disputed the claim and said that it is fighting it legally. The company’s shares were trading at…
Jaiprakash Associates Ltd (JAL), a key entity within the Jaypee Group, is currently undergoing an insolvency process. In a significant move, a consortium of lenders has transferred their outstanding loans from JAL to the National Asset Reconstruction Company Ltd (NARCL). This decision is part of the broader efforts to manage non-performing assets (NPAs) and improve…
Food delivery giant Zomato is facing an insolvency plea from uniform supplier Nona Lifestyle, alleging unpaid dues of Rs 1.64 crore, as reported by Bar and Bench on March 17. The National Company Law Tribunal (NCLT) has adjourned the case to April 3, requesting the petitioner to clarify its next steps. According to the report,…
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When Alberta’s United Conservative government contracted out community medical lab testing to a private company in December 2022, it said it would save tens of millions of dollars. Two weeks before that contract with DynaLife Medical Labs was set to take effect, the company told the province it needed additional funding. Less than three months…
Rosmerta Digital Services has filed an insolvency petition against Ola Electric Mobility’s subsidiary, Ola Electric Technologies, before the National Company Law Tribunal (NCLT), alleging that the electric two-wheeler maker has defaulted on payments for the services provided. This comes at a time when Ola Electric’s vehicle registration process transformation is in its final stages. The…
Ola Electric shares hit record low after unit faces insolvency petition MSN Read the original article here
A North Bay company in operation for decades has been deemed bankrupt by the court, and its approximately 50 employees have been let go with severance and pension packages in doubt. Central Welding & Iron Works was founded by Malcolm (Mac) Yetman and was purchased by partners Glenn Graham and Stefan Thomsen in 1980. Graham later sold his share,…
The insolvency petition comes at a challenging time for Ola Electric. The company is also facing financial pressure, having reported a net loss of ₹564 crore in Q3 FY25. NEW DELHI: Ola Electric’s stock dropped sharply on Monday, hitting a 52-week low of ₹46.94. The decline came after the company disclosed that an insolvency petition…
A North Bay company in operation for decades has been deemed bankrupt by the court, and its approximately 50 employees have been let go with severance and pension packages in doubt. Central Welding & Iron Works was founded by Malcolm (Mac) Yetman and was purchased by partners Glenn Graham and Stefan Thomsen in 1980. Graham later sold his share,…