Ola Electrical Arm Settles Dispute with Automobile Registration Provider Supplier for Due Quantity

Ola Electric, one of the large electric two-wheeler companies, has reported that its unit Ola Electrical Applied Sciences have resolved the case of the outstanding amount with its former vehicle registration service provider Rosmerta. Regarding this outstanding amount, Rosmerta filed a petition against Ola Electrical Applied Sciences to initiate insolvency proceedings.

In a filing to the stock exchange, Ola Electrical reported that the case of outstanding amount with Rosmerta has been dealt with by Ola Electrical Applied Sciences with mutual consent. Rosmerta has filed a memo to withdraw petitions related to insolvency from the National Company Law Tribunal (NCLT), Bengaluru. Ola Electric said that he is committed to maintaining strong business relations and timely disposal of any commercial disputes.

On behalf of Rosmerta Virtual Services and Products and Rosmerta Protection Programs providing vehicle registration services and high-quality registration plates, two different petitions were filed against Ola Electrical Applied Sciences on behalf of Ola Electrical Applied Sciences. The reason for non -payment of the outstanding amount in these petitions was stated. Rosmerta Virtual Services and Products claimed about Rs 22 crore and Rosmerta Protection Programs claimed about Rs 2.5 crore.

However, Ola Electric had said that there is a dispute over these claims and she is taking legal advice in the matter. The company has prepared to process the vehicle itself. Earlier, the company had outsourced the process of registration of vehicles. For this, the company has formed a team. Ola Electric estimates that this cost will reduce to about 20 percent. For registration of an electric vehicle of the company, Vendor Rosmerta was paid Rs 1,500-1,800. Ola Electric estimates that this expenditure may be reduced to about 300 rupees. Last week, Heavy Industries and Road Transport Ministry sought information on the sale and registration data of the company’s vehicles in February. Ola Electric had reported that it was sold around 25,000 vehicles in February. However, only about 8,600 registrations of the company’s vehicles are visible on a government portal. Ola Electric had said that it is a matter of temporary pending registration.