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Ola Electric Mobility Limited disclosed Saturday that its wholly owned subsidiary, Ola Electric Technologies Private Limited, faces an insolvency petition
Canadian department store retailer Hudson's Bay Company said on Friday it has failed to secure sufficient financing to go ahead with a restructuring transaction
Rosmerta has filed an insolvency petition against Ola Electric Technologies in the NCLT Bengaluru, alleging payment defaults for its services.
Rosmerta Digital Services Ltd, a vehicle registration service provider, has filed an insolvency petition against Ola Electric Mobility’s subsidiary Ola Electric Technologies before the National Company Law Tribunal in Bengaluru. According to Rosmerta, the company has defaulted in payments for the services provided. Due to this announcement Ola Electric’s share price dipped 4% on Monday’s trading session.
According to PTI, in a regulatory filing, the company said, “A petition has been filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. Rosmerta Digital…
Shares of Bhavish Aggarwal-led Ola Electric Mobility Ltd tumbled 7% in intraday trade on Monday to hit their lowest amid an insolvency petition filed in National Company Law Tribunal’s (NCLT’s) Bengaluru Bench against its subsidiary by operational creditor Rosmerta Digital Services Ltd.
The insolvency plea, seeking initiation of the corporate insolvency resolution process (CIRP) against Ola Electric Technologies Pvt Ltd, a wholly-owned subsidiary of Ola Electric Mobility, alleges default in payment towards the services rendered by Rosmerta Digital.
Reacting to the development, shares of Ola Electric hit an all-time low of ₹46.94 on the BSE, bringing down the company’s market cap to around ₹20,500 crore.
Shares of Ola Electric Mobility Ltd. fell as much as 6% on Monday, March 17, after a high security number plate manufacturer and vehicle registration agency sued the company for defaulting on payments. With this, the stock fell below the mark of ₹50 apiece.
Ola Electric, in an exchange filing over the weekend, mentioned that it had been sued by Rosmerta Digital Services Ltd., which filed a petition against the company at the National Company Law Tribunal (NCLT), Bengaluru, and also petitioned to initiate Corporate Insolvency proceedings against the company.
A liquidator is investigating whether a failed international student agency improperly transferred funds out of Australia in the weeks before its collapse.
Its collapse has left hundreds of students at risk of losing years of savings and the opportunity to study in overseas destinations, including Australia.
Liquidation firm Taylor Insolvency has been appointed to wind up the Australian arm of the business.
GrowPro Experience arranges study and work for international students in a variety of countries, including Australia. (growproexperience.com)
Ola Electric’s share price experienced a significant drop following the announcement that Rosmerta Digital Services Ltd. intends to file for insolvency against Ola Electric Technologies Pvt Ltd., a wholly-owned subsidiary of Ola Electric Mobility Ltd. This news led to an almost 4% fall in Ola Electric’s share price during Monday’s trading session, as reported on March 17, 2025. Similarly, another report on the same day noted that Ola Electric’s shares slid by 7%, falling below ₹50 on the BSE after this disclosure. The share price reached a day’s low of ₹47.14 on BSE.
Insolvency Proceedings by Rosmerta Digital Services
Rosmerta Digital Services Ltd., which serves as an operational creditor providing vehicle registration services to…
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Ola Electric Mobility Limited disclosed Saturday that its wholly owned subsidiary, Ola Electric Technologies Private Limited, faces an insolvency petition filed by Rosmerta Digital Services Limited. The petition was submitted to the National Company Law Tribunal (NCLT) in Bengaluru under Section 9 of the Insolvency and Bankruptcy Code.
Rosmerta Digital Services, an operational creditor, alleges default in payments for services rendered and seeks to initiate Corporate Insolvency Resolution Process (CIRP) against the subsidiary.
Ola Electric stated it “strongly disputes the claims…
KUALA LUMPUR (March 17): The Credit Counselling and Debt Management Agency (AKPK) has introduced the 3P formula — Purpose, Payment Capacity and Payment History — to guide individuals in making responsible credit decisions, particularly in short-term financing like ‘Buy Now, Pay Later’ (BNPL).
AKPK, in a statement on Monday, emphasised that the agency is committed to empowering individuals with the knowledge and tools to manage their finances responsibly, besides helping them evaluate their financial capacity and avoid excessive debt.
“In term of Purpose, AKPK emphasises the importance of borrowing for beneficial and sustainable purposes to fulfil needs that provide long-term benefits, rather than satisfying temporary wants or…
The shares of Ola Electric shed about 6 percent in early trading on Monday, March 17, with reports of two of its units having filed insolvency petitions due to vendor dues.
At 11 am, shares of Ola Electric Mobility Limited are currently trading at Rs 47.27, down 6.43 percent.
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A subsidiary of Ola Electric Mobility Ltd. is grappling with insolvency petitions filed by two key vehicle registration service providers in India over outstanding dues, further exacerbating the EV maker’s financial and operational challenges. Rosmerta Digital Services Pvt. and Rosmerta Safety Systems, both suppliers of vehicle registration services and high-security registration plates, have separately initiated insolvency…
Canadian department store retailer Hudson’s Bay Company said on Friday it has failed to secure sufficient financing to go ahead with a restructuring transaction under the Companies’ Creditors Arrangement Act.
Hudson’s Bay
The Toronto-based company said it has only secured limited debtor-in-possession financing that will require the full liquidation of the entire business, added that a store-by-store liquidation process will begin as soon as next week.
Hudson’s Bay said it hopes that key stakeholders, particularly its landlord partners, would explore with it an alternative restructuring path that could preserve jobs and tenancy in retail…
