Ola Electric, led by Bhavish Aggarwal, is facing mounting troubles, including financial strain, regulatory challenges, and consumer complaints. Two key service providers—Rosmerta Digital Services and

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. This adds to the EV maker's troubles,

The fall in the company’s stock price comes after Rosmerta Digital Services filed a petition against Ola Electric Technologies under Section 9 of the Insolvency and Bankruptcy Code.

Aggarwal has now pledged about 2.43% shares of Ola Electric, or 8.09% of his shareholding in the company to raise debt for Krutrim

The difficulties for Bhavish Aggarwal seem to be growing as he expands stores. Ola Electric’s share price plunged 4.4% intra-day to Rs 54.03. This is after the company came under scrutiny over reportedly not having a trade certificate for dealerships.

Ola Electric's founder pledges shares to secure debt financing for AI startup Krutrim, raising capital for growth.

(Reuters) -Shares of India's Ola Electric Mobility slid more than 6% to a record low on Monday after the company said one of its units faced an insolvency petition from a creditor. Its shares fell as much as 6.

A unit of Ola Electric Mobility Ltd. is facing insolvency petitions from two of its key vehicle registration service providers in India over unpaid dues, adding to the EV maker’s mounting troubles.

Bhavish Agarwal's Ola Electric Mobility Ltd on Saturday said its vehicle registration service provider Rosmerta Digital Services Ltd has sought the initiation of insolvency proceedings against its wholly owned arm Ola Electric Technologies Pvt Ltd.

The company, in an exchange filing, further said that the petition, submitted before NCLT’s Bengaluru Bench, alleged to default in payment towards the services rendered by the Operational Creditor and sought initiation of corporate insolvency resolution process (CIRP) against the Ola Electric Technologies Private Limited.