Ola Electric Slips 5% As Suppliers Sterling, Anevolve Move NCLT Over Rs 40 Crore Dues
Ola Electric shares fell as much as 5.3% to Rs 42.1 after two suppliers approached the NCLT seeking insolvency proceedings over unpaid dues exceeding Rs 40 crore — Rs 29.8 crore to Sterling and Rs 10.8 crore to Anevolve, pending 45 days. The move adds pressure amid mounting supplier disputes and market-share erosion to TVS and Ather Energy.
Ola Electric shares fell 5% after two suppliers, Sterling and Anevolve, moved NCLT seeking insolvency proceedings over unpaid dues exceeding Rs 40 crore, amid ongoing supplier disputes and market-share loss in EV two-wheelers.