Ola Electric Arm Settles Dispute With Vehicle Registration Service Provider for Due Amount

Ola Electric, one of the large electric two-wheeler companies, has reported that its unit Ola Electric Technologies has 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 Electric Technologies to initiate insolvency proceedings.

In a filing to the stock exchange, Ola Electric reported that Ola Electric Technologies have dealt with mutual consent by Ola Electric Technologies. 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.

Two separate petitions were filed against the eclasia against Ola Electric Technologies against Rosmerta Digital Services and Rosmerta Safety Systems providing vehicle registration services and high-quality registration plates. The reason for non -payment of the outstanding amount in these petitions was stated. Rosmerta Digital Services claimed about Rs 22 crore and Rosmerta Safety Systems of 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.