Ola Electric slips after suppliers file NCLT pleas over ₹40cr
Business
Ola Electric's stock slipped 2% on Tuesday, capping a three-day drop of 9%.
The slide comes after two suppliers claimed the company owes them more than ₹40 crore and have filed insolvency pleas against its subsidiary.
They've taken the issue to the National Company Law Tribunal, seeking resolution.
Ola Electric registrations exceed 43,000
Even with these financial headlines, Ola Electric is seeing strong demand for its vehicles: registrations nearly doubled last quarter to more than 43,000, with June alone setting a new record.
The company says it's focused on boosting India's EV scene through better tech and direct-to-customer sales.