Ola Electric has confirmed in an exchange filing that it is in an ongoing dispute with two of its component suppliers, after a media report on the same caused its shares to fall 5%, prompting the BSE to seek a formal clarification.
In its response, the company acknowledged that Anevolve Mando E-Mobility and Sterling E-Mobility Solutions, vendors supplying key parts to the company, have moved the National Company Law Tribunal (NCLT) over unpaid dues, escalating a disagreement that began with quality complaints from Ola Electric's side.
The Bhavish Aggarwal-led company maintains this is a "genuine pre-existing" dispute rather than a sign of fresh financial strain.
Detailing the standoff, Ola Electric said it had raised warranty and performance-related issues over the suppliers' parts that went unresolved for some time. Ola Electric filed petitions under section 9 of the Arbitration and Conciliation Act, 1996, before the Commercial Court in Bengaluru, seeking interim relief while arbitration tribunals were constituted.
Hitting back, the two vendors filed petitions under section 9 of the Insolvency and Bankruptcy Code, 2016, which led to last week's news report and the stock's fall. Ola Electric said it is contesting these petitions and pursuing "all appropriate legal steps."
The company further maintained that the report has no material impact on its business, operations, or financial position.
Last year, another vendor of Ola Electric’s, Rosmerta Digital Services, had filed an insolvency petition against Ola Electric Technologies, a subsidiary of Ola Electric, which is responsible for manufacturing the company’s electric scooters at its factory in Tamil Nadu.
Earlier this month, Ola Electric said it sold 43,719 vehicles in the first quarter of FY27, nearly doubling the 22,252 vehicles in the previous quarter. Citing Vahan data, it said that the quarter concluded with 16,144 registrations (a proxy for sales) in June 2026, reflecting sustained business momentum and the company's strongest monthly performance in recent quarters.
