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Bengaluru10 days ago
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April 22, Maharashtra was instructed to close the 121 store.
Ola, the electronic bilateral manufacturer, is again controversial. This time a show-kos notice has been issued by the Ola Union Transport Ministry. The ministry has sought answers to several important questions within 7 days. If Ola does not respond in a timely manner, legal action can also be taken against him.
After the notice, Ola stock closed 49.72 on Friday 49.72 rupees. In addition, Ola made clarity about the instructions for 121 store action in Maharashtra three days ago. Ola says we have not received any notice to close the showroom in Maharashtra.
We have already informed the Exchange about the trade certificate notice of 4 states on March 21 2025.
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 Electronic Stock has declined by more than 35% in 6 months
On Friday, Ola Electric Shares were closed 5.13% at 49.72. Ola stock has dropped by more than 8% 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.
Basic Certificate is not in 95% of the store
Ola Electric has opened 5 stores since 2022. According to the economic period report, about 5 showrooms are available. There were only 5 showrooms out of 5, which had the necessary trade certificate under the Motor Vehicles Act.
More than 95% of the company’s stores do not require preliminary credentials to display, sell and offer their test rides.
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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