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Mumbai16 hours ago
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On April 22, 121 stores were instructed to take action in Maharashtra in the absence of trade certificates.
Sebi Ola has launched an investigation into allegations of internal business against the electric. According to the NDTV report, Ola Electric violated the rules on Insider Trading and Related Party Agreements by October-December of 2024.
At the same time, Ola describes these allegations as wrong and true. The case was published when Ola was already accused of unrest in the sales report of February 2025. In fact, in February 2021, the company claimed that it had sold 20.5 electric vehicles and got 20% of the electric market share.
However, according to information recorded on the official website, only 1,66 vehicles of the OLA were registered in February. Sebi is investigating this big difference.
The Central Transport Ministry has also given notice
Earlier, on April 25, the Union Ministry issued a show-kos notice to OLA. The ministry sought answers to several important questions within 7 days.
Ola asks the answer to this question in the notice
- Session: The OLA has the number of sales and services centers across the country, details of trade certificates issued in the last 3 years and their dates.
- Sales information in February: Ola will also have to give 7,820 electronic scooter models and variant -based details sold in Ola.
- Non -resistant car: The ministry has asked whether the OLA centers have been kept so far without registration.
April 22, 121 stores were instructed to take action in Maharashtra
Three days ago, the Transport Department of Maharashtra ordered Ola to close the 121 store. The transport department examined the 146 stores from the OLA, out of which more than 121 stores operated without trade certificates.
In fact, last month, RTO raided several stores in Ola in Maharashtra. In the absence of trade credentials in stores, 192 cars were seized and showed because notice was given.
Ola electric shares have declined by 46% in 1 year
On Friday, Ola Electronic shares closed 48.53 rupees with a pile of 0.33%. Ola shares have dropped by more than 10% in a month. At the same time, the stock has broken more than 45% in the last one year. Ola Bazaar is the capital of 22.14 thousand crore.
Was red in Ole’s store 4 times
The RTO action was taken in Oler stores. So far 32 stores in Maharashtra and Madhya Pradesh have become red. Apart from these, arrangements have also been taken in some shops in Rajasthan. More than 50 electric vehicles have been seized.
- March 8- Several OLA stores were launched across the country. In the absence of trade certificates, several stores were sealed, electric vehicles were seized.
- March 12- RTO killed 2 stores in Jabalpur in Madhya Pradesh. Transport officials seized 5 electric vehicles during this period.
- March 18- In Indore 4 stores have attacked. In the absence of trade certificates, a show was given notification.
- 17 to 19 March- It was launched in 26 shops in Pune in Mumbai and Maharashtra. In it, 36 cars were seized and noticed.
Action after complaints of other companies
Pratap Singh and Gurugram Associates Agency Ola filed a complaint against the electric and some other agencies for not having trade certificates. After the allegations, the transport officials of Maharashtra took action.
Ola says electronic- Red’s verb is wrong and biased
In Red’s action, a spokesman for Ola Electric said no car was seized. Earlier, Ola described the investigation as wrong and biased. The spokesperson said that there are list of unregistered vehicles at Ola Distribution Centers and warehouses in many states.
These motor vehicles are fully followed by the law guidelines and the required approval is present. The company did not give any information about red in stores.
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