Ola Electrical beneath scrutiny over mismatching gross sales and registration knowledge: Report
Mar 20, 2025 05:15 PM IST
It is because the corporate claimed to have bought 25,000 automobiles 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 looking for particulars about discrepancies between the its reported gross sales and precise automobile registrations.
It is because the corporate claimed to have bought 25,000 automobiles 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’t 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 appeared to see if the automobiles had essential documentation and have been being bought with a legitimate 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 no 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 Trade (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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