Mon Mar 17 12:30:00 UTC 2025: **Ola Electric Faces Insolvency Petition from Service Provider**
BENGALURU, INDIA – Ola Electric Technologies, a subsidiary of Ola Electric Mobility, is facing an insolvency petition filed by Rosmerta Digital Services Ltd. The petition, filed with the National Company Law Tribunal (NCLT) in Bengaluru, alleges that Ola Electric defaulted on payments for services rendered. Rosmerta Digital, a subsidiary of Rosmerta Technologies Ltd., provides digital services and sales support for vehicles and components.
Ola Electric confirmed the petition in an exchange filing, stating that it strongly disputes the claims and is taking legal action to protect its interests. The petition comes just weeks after Ola Electric announced renegotiations with Rosmerta Digital and another vendor, Shimnit India, to reduce costs and improve vehicle registration processes.
This development occurs as Ola Electric nears the completion of its vehicle registration process transformation and claims to have implemented a cost-reduction program saving ₹90 crore (approximately $10.9 million USD) per month. The company anticipates achieving EBITDA breakeven in the first quarter of the next financial year. The outcome of the NCLT proceedings remains to be seen.
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