Ola Electric Technologies Private Limited, a subsidiary of Ola Electric Mobility Limited, has amicably settled all outstanding dues with its former vehicle registration service provider, Rosmerta Group. The company informed the stock exchanges on Tuesday that the settlement has been completed and that there are no further claims or disputes pending between the parties.
Following the resolution, Rosmerta Group has filed a memorandum with the National Company Law Tribunal (NCLT), Bengaluru, to withdraw the insolvency petitions it had earlier initiated. As per agency report, the matter has now been formally closed, with no further legal proceedings expected.
Ola Electric Mobility reiterated its commitment to maintaining strong business relationships and ensuring timely resolution of commercial matters. The company emphasized that it prioritizes cordial settlements and continued cooperation with its vendors.
Earlier this month, Rosmerta Digital Services Limited had filed a petition with the Bengaluru bench of NCLT seeking insolvency proceedings against Ola Electric Technologies Private Limited. The petition alleged payment defaults related to services rendered.
In response, Ola Electric clarified last week that it had terminated contracts with two nationwide vendors, including Rosmerta, as part of its broader strategy to streamline operations and enhance profitability. The move was aimed at bringing more efficiency to its vehicle registration process, which the company has since brought in-house.
The settlement marks a significant development in resolving the financial dispute and reaffirms Ola Electric's focus on operational stability and vendor alignment amid its ongoing business transformation efforts.
