Ola Electric shares rose by 3% on Tuesday following the company’s official announcement of an amicable resolution to its legal dispute with the Rosmerta Group. This marks a crucial development in the case previously filed before the National Company Law Tribunal (NCLT), Bengaluru. As of 9:15 AM, the shares were trading 2.26% higher at Rs 56.95
In a media statement, Ola Electric confirmed that all outstanding dues between its wholly owned subsidiary, Ola Electric Technologies Private Limited, and Rosmerta Group have been settled. Consequently, Rosmerta has filed a memorandum for the withdrawal of its insolvency petition.
“The matter now stands fully resolved. Ola Electric remains committed to fulfilling its obligations and maintaining professional relationships with all stakeholders,” the company stated.
The dispute originated when Rosmerta Autotech Pvt Ltd, a subsidiary of the Rosmerta Group, filed an insolvency plea under Section 9 of the Insolvency and Bankruptcy Code (IBC) against Ola Electric Technologies Pvt Ltd, citing unpaid dues of approximately ₹3 crore related to component supplies.
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