Ola Electric Mobility Limited has issued a clarification regarding a media report alleging that two suppliers, Anevolve Mando E-Mobility Private Limited and Sterling E-Mobility Solutions Private Limited, have moved the National Company Law Tribunal (NCLT) over dues. The company stated that it had raised warranty and performance-related concerns with these vendors, which remained unresolved. In response, Ola Electric initiated arbitration proceedings and filed petitions under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim relief. Subsequently, the vendors filed petitions under Section 9 of the Insolvency and Bankruptcy Code, 2016. Ola Electric maintains that these disputes are subject to pre-existing arbitration and is contesting the insolvency petitions, taking all appropriate legal steps. The company asserts that it is not aware of any unannounced information that could explain any trading movement and that all material events have been duly disclosed. Ola Electric also stated that the media report has no material impact on the company's business, operations, or financial position. The company remains committed to corporate governance and regulatory compliance.
