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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 (NCLT), Bengaluru Bench, alleging non-payment for services rendered.
In response, Ola Electric has strongly disputed the claims and stated that it has sought appropriate legal advice. The company asserted that it will take all necessary and appropriate steps to protect its interests and challenge the allegations in this matter.
New Delhi: 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 dues.
The vendor of Ola Electric Technologies Private Limited has approached the National Company Law Tribunal (NCLT) in Bengaluru, claiming that the company has defaulted on payments for services provided.
According to an exchange filing, Rosmerta Digital Services has requested the tribunal to initiate a corporate insolvency resolution process.
Ola Electric, in response, stated that it strongly disputes the claims made by the vendor and is seeking legal advice to protect its interests.
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. In an exchange filing, Ola Electric informed that, “We wish to inform you that a petition has been filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) by M/s. Rosmerta Digital Services Ltd, an operational creditor of Ola Electric Technologies Pvt Ltd, a wholly owned subsidiary of Ola Electric Mobility.”
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 dues.
The vendor of Ola Electric Technologies Private Limited has approached the National Company Law Tribunal (NCLT) in Bengaluru, claiming that the company has defaulted on payments for services provided.
According to an exchange filing, Rosmerta Digital Services has requested the tribunal to initiate a corporate insolvency resolution process.
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, including leasing factory machinery, attracting investors to acquire the…
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 Island City Council (MBPP) mayor Datuk A. Rajendran was also seen visiting the scene of the incident.
Several bus routes have also been diverted due to the temporary closure of Jalan Patani.
No casualties have so far been reported.
Earlier this morning, a plastic recycling plant in Bukit Minyak also caught fire at…
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.
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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., Ltd. confirmed its acquisition of Volocopter, following the signing of an asset purchase agreement on March 6. According to a translated announcement reported by China eVTOL News, the transaction will be funded entirely through Wanfeng’s own capital or self-raised funds.
Wanfeng’s German subsidiary, Heptus 591 GmbH, has signed an asset…
Ola Electric renegotiated its terms with its vendors, Rosmerta Digital Services and Shimnit India, to reduce costs and enhance registration process efficiencies.
An insolvency plea has been filed against Ola Electric by Rosmerta Digital Services on Saturday, March 15 over alleged default in payments, as stated in Ola’s exchange filings. Rosmerta Digital Services was responsible for handling vehicle registrations for the two-wheeler manufacturer in the respective regional transport office (RTO).
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₹25 crore.(Reuters)” title=”The two companies who have filed insolvency pleas have claimed outstanding dues worth about 