Two Suppliers Drag Ola Electric to NCLT Over ₹40 Crore Unpaid Dues
Sterling E-Mobility (₹29.8 cr) and Anevolve Mando (₹10.8 cr) filed insolvency petitions against Ola Electric, which is contesting. The move follows a bruising FY26: revenue down 50% to ₹2,253 crore, sales off 44% to 173,794 units, a net loss of ₹1,833 crore, and a slip to fifth in India's EV two-wheeler market.
Two suppliers filed NCLT insolvency petitions against Ola Electric over ₹40 crore unpaid dues. Ola is contesting. The dispute follows a difficult FY26 with revenue down 50% and Ola slipping to fifth in India's EV two-wheeler market.