Ola Electrical unit settles dues with Rosmerta Group company

Ola Electrical stated the backlog that arose from the info mismatch has been cleared, however the authorities has sought data on the matter. File
| Picture Credit score: Reuters

A unit of Ola Electrical has settled its dues with car registration company Rosmerta Group, the electrical scooter maker stated on Tuesday (March 24, 2025).

Rosmerta will now withdraw a petition to take the unit bancrupt, Ola Electrical stated.

Earlier this month, Rosmerta Digital Providers filed a petition in opposition to Ola Electrical Applied sciences, alleging a default in funds, however didn’t point out the dimensions of the default.

Ola Electrical had additionally stated a mismatch between company-provided gross sales knowledge and authorities registration knowledge in February was as a result of negotiations with its car registration distributors.

The corporate stated the backlog that arose from the info mismatch has been cleared, however the authorities has sought data on the matter.

Ola Electrical’s shares have recovered barely from a file low because it knowledgeable buyers of the insolvency petition, however are nonetheless down about 27% since itemizing August 2024.