Mar 20, 2025 05:15 PM IST
It’s because the corporate claimed to have bought 25,000 autos in February, although solely 8,600 have been registered as per the Vahan Portal.
Ola Electrical is at present going through elevated regulatory scrutiny with the Ministry of Heavy Industries searching for particulars about discrepancies between the its reported gross sales and precise automobile registrations.
Ola Electrical’s S1 Air e-scooters are pictured inside its manufacturing facility in Pochampalli within the southern state of Tamil Nadu, August 15, 2023.(REUTERS)
It’s because the corporate claimed to have bought 25,000 autos in February, although solely 8,600 have been registered as per the Vahan Portal., in response to a CNBC-TV18 report.
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HT.com can not independently confirm the authenticity of the data contained within the report.
As a part of the probe, Maharashtra RTO officers inspected a number of Ola showrooms throughout the state, in response to the report which added that they regarded to see if the autos had needed documentation and have been being bought with a sound commerce certificates.
Nevertheless, 36 scooters have been seized in Mumbai and Pune attributable to non-compliance points, in response to the report.
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The crackdown even prolonged to Punjab the place a number of Ola showrooms have reportedly been shut down.
In Jabalpur as nicely, RTO authorities issued notices to Ola Electrical after it discovered unregistered scooters being bought with out a legitimate commerce certificates, in response to the report.
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How did Ola Electrical shares carry out?
At 3 pm IST, Ola Electrical Mobility Ltd shares have been buying and selling at ₹52.20 on the Bombay Inventory Alternate (BSE). This was a drop of three.01% or ₹1.62.
The intraday low was ₹51.64 whereas the excessive was ₹54.45.
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