Bhavish Aggarwal gets breather from court, but Ola's troubles deepen
Business
Bhavish Aggarwal, CEO of Ola Electric, just caught a break—the Bombay High Court put his arrest warrant on pause after a consumer complaint case got messy.
The court felt the commission behind the warrant went too far with its powers.
But while Aggarwal dodges legal trouble for now, Ola Electric is battling bigger issues.
Ola Electric's stock is in free fall
Ola Electric's stock is in free fall—down about 32% over the past year and hitting a fresh 52-week low after weak earnings and shrinking revenue.
Citi has downgraded the stock to "sell," blaming slow EV adoption, service complaints, and tough competition.
For anyone following India's EV scene or startup drama, this is one to watch—Ola's bumpy ride isn't over yet.