Delhi Delhi: A seller of Ola Electric Mobility Limited – Rosmarta Digital Services Private Limited – has filed a bankrupt petition against a full -fledged subsidiary of the electric two -wheeler manufacturer for not paying the arrears.
A seller of Ola Electric Technologies Private Limited has approached the National Company Law Tribunal (NCLT) in Bengaluru, claiming that the company has missed the payment for services provided.
According to the exchange filing, Rosmarta Digital Services has requested the tribunal to initiate the corporate insolvency solution process. Ola Electric replied that she strongly refutes the claims made by the seller and is taking legal advice to protect her interests.
According to the stock exchange filing on 15 March, the company assured that it would take all necessary steps to counter the allegations. Ola electric technologies are responsible for the construction of the company's electric scooter at its futurefactory in Tamil Nadu.
On the other hand, the battery business is handled by Ola Cell Technologies Private Limited. Rosmarta Digital Services was one of the vendors that provided vehicle registration for Ola Electric on the government's Vahan website. However, in February, Ola Electric finished its partnership with Rosmarta and established an in-house team to manage the process.
According to the report, the objective of this decision was to reduce the cost and achieve operating profitability as soon as possible. Despite the move to bring the in-house in-house, Ola Electric has not yet paid the dues of Rs 17-18 crore to Rosterta Digital Services.
The impact of this change appeared in the February vehicle registration data. While Ola Electric claimed to sell 25,000 electric scooters that month, only 8,390 were registered on the Vahan portal.
The company attributed the gap to re -interaction with vendors, including Rosmarta and Shimneet India, who were previously responsible for vehicle registration. Ola Electric had clarified in the exchange filing last month that these ongoing discussions have temporarily affected the registration number, but it had no impact on the actual sales. On Thursday, the company's shares fell by 1.12 percent to Rs 50.54 per share on the Bombay Stock Exchange (BSE). The stock market remained closed due to holiday on Friday.