Ola Electric has issued an official clarification regarding recent media reports that claimed over 100 of its showrooms in Maharashtra were ordered to shut down by the state Transport Department for operating without mandatory trade certificates.
In a regulatory filing with BSE dated April 25, 2025, Ola Electric stated:
“We are not aware of any such negotiations or events regarding a notice from the authorities ordering immediate closure of over 100 showrooms in Maharashtra.”
The company acknowledged that it had previously informed the exchanges on March 21, 2025, about receiving notices in four states, including Maharashtra, concerning trade certificates for specific stores. However, Ola reiterated that no fresh or additional closures have been communicated.
Ola further assured the exchange that it remains committed to regulatory compliance and will continue to promptly disclose any material information as required.
The clarification follows a CNBC-TV18 report on April 24, which cited a Transport Department directive claiming that 107 out of 131 Ola Electric showrooms in Maharashtra were non-compliant. It also said 104 show cause notices had been issued and that 214 vehicles were seized.
Ola Electric has yet to release a public statement beyond the stock exchange disclosure.
