Mumbai10 hours ago
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The Maharashtra government has sent notice to Ola Electric Mobility Limited in a trade certificate case. The company has been sought a reply in 3 days on several showrooms and service centers in Maharashtra without running a trade certificate. The notice stated that several stores in Maharashtra are running without permission. Vehicles are being sold illegally in this.
The government said that this is a serious matter. In 3 days, tell me why action should be taken against you? The Maharashtra Transport Commissioner Office issued a notice on 31 March 2025. In fact, between 17 and 19 March, it was raided at 26 stores in Mumbai and Pune, Maharashtra. In this, 36 vehicles were seized and notices were given.
Red was 4 times on Ola’s store
- 8 March- Several stores of Ola were raided across the country. Due to lack of trade certificate, several stores were sealed, electric vehicles were seized.
- March 12- RTO killed 2 stores in Jabalpur, Madhya Pradesh. Transport officials seized 14 electric vehicles during this period.
- March 18- Raided 4 stores in Indore. Due to lack of trade certificate, a show cause notice was given.
- 17 to 19 March- It was raided at 26 stores in Mumbai and Pune, Maharashtra. In this, 36 vehicles were seized and notices were given.
Action after complaints from other companies
Pratap Singh and Associates Company of Gurugram had filed a complaint against Ola Electric and some other companies for not having a trade certificate. After the complaint, transport officials of Maharashtra took action.
Basic certification is not on 95% store
Ola Electric has opened 4,000 stores since 2022. According to the report, only about 3,400 showrooms of these are available. Out of 3,400, there were only 100 showrooms who had the necessary trade certificates under the Motor Vehicle Act.
More than 95% of the company’s stores do not have basic certification necessary to display, sell and offer their Test rides.
Ola Electric said- action is wrong and biased
On Tuesday’s action, a spokesman for Ola Electric said that no vehicle has been seized. Earlier, Ola described the investigation as wrong and biased. The spokesperson had said that there are inventory of unregistered vehicles in Ola’s distribution centers and warehouses in many states.
These motor vehicle acts fully follow the guidelines of the Act and the necessary approvals exist. The company did not give any information about the red on the stores.
8% fell on the petition of insolvency action
Ola Electric’s shares had fallen by about 8% on March 17. The company’s stock had declined after the company’s petition was filed against a subsidiary of a subsidiary.
Understand the whole matter in 3 points
Three companies Ola Electric Mobility are associated with its subsidiary Ola Electric Technology Private Limited and Rosmarta Digital Services Limited.
- Rosmarta Digital, a company making high security number plate, has accused Ola Electric Technology Private Limited of stopping the arrears of Rs 18 to 20 crore.
- For this, RoSmarta Digital has filed a petition to initiate bankruptcy proceedings against Ola Electric Technology in the Bengaluru Bench of the National Company Law Tribunal.
- Ola Electric in the case says that she dismisses these allegations. She is taking legal advice in the case and will strictly challenge the allegations.
65% dropped from all time high
After a listing of shares in August 2024, Ola’s stock has fallen by about 65% from its peak of Rs 157.53. The company’s shares have fallen by about 20% in the last one month. Apart from this, by December 2024, the company’s market share fell from 49% to 23%.
(Tagstotranslate) Ola Electric Mobility Ltd (T) Maharashtra Government (T) Notice to Ola Electric