Two suppliers have filed insolvency petitions against an Ola Electric subsidiary over alleged ₹40 crore payment defaults. The company is contesting these claims, citing a prior legal suit regarding quality standards. This development comes as the company works to improve its operational performance and narrow net losses.
Electric two-wheeler manufacturer Ola Electric is currently navigating fresh legal challenges at the National Company Law Tribunal (NCLT). Two component suppliers, Sterling E-Mobility Solutions Ltd. and Anevolve Mando eMobility Pvt. Ltd., have initiated insolvency proceedings against Ola Electric Technologies Pvt. Ltd., a wholly owned subsidiary of the company. The suppliers allege that the electric vehicle maker has…