A media report stated that the SEBI is also investigating the clarification given by Ola Electrical regarding the data of the sales of February. The company had said that in February it was sold around 25,000 vehicles. However, only about 8,600 registrations of the company’s vehicles were seen on the vehicle portal. Ola Electric had said that it is a matter of temporary pending registration. The company canceled its contract with two vendors who handled the process of registration of vehicles. This step was taken to reduce the cost.
Heavy Industries and Road Transport Ministry also sought information in February on the sale and registration data of the company’s vehicles. Apart from this, the state government of the company’s stores in Maharashtra is scrutiny due to disturbances about trade certificate. 146 stores were inspected in the state of Ola Electric. Of these, about 121 stores were being run without a trade certificate. Of these stores, 75 have been closed by the state government. NDTV Benefit quoted the Joint Transport Commissioner of Maharashtra as saying, “Action should be taken against such stores and cancellation of the actual trade certificate.”
However, the representative of Ola Electric had said, “Your claims about our stores in Maharashtra are wrong and misleading. We are working closely with the concerned authorities in the state to resolve any questions or apprehensions.” Earlier, the Maharashtra government had given notice to Ola Electric for not having a trade certificate for some of its stores in the state. The company raided several stores in Maharashtra in March.
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