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 had been filed against its subsidiary, Ola Electric Technologies Pvt Ltd.
The petition was filed by Rosmerta Digital Services Ltd, an operational creditor. The company alleged default in payment for services rendered. The matter has been submitted to the National Company Law Tribunal (NCLT) Bengaluru Bench under Section 9 of the Insolvency and Bankruptcy Code, 2016.
Ola Electric Mobility, the…
