Ola Electric Mobility shares dropped more than 3% in the morning after the company received a show cause notice from the Central Consumer Protection Authority (CCPA). The notice, received on October 7, 2024, expresses concern overalleged violations of consumer rights, misleading advertising, and unfair trade practices.
The firm stated that the show cause notice was sent via email and that the CCPA gave Ola Electric 15 days to respond. Ola Electric plans to submit a full response to the CCPA within this time range, accompanied by necessary documents and clarifications.
As of 9:23 am, Ola Electric shares were trading 1.86% higher at Rs 92.51 on the NSE.
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