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“Ola Electric Mobility Ltd has an outstanding liability to Rosmerta Digital Services Ltd who operates as an M/s. creditor. As of now, Rosmerta Digital Services Ltd has initiated a case for insolvency with a the National Company Law Tribunal, Bengaluru which has been registered under their Section 9 of the Insolvency and Bankruptcy Code of 2016 (IBC) framework),” reported the automaker during one trading session.
“The NCLT has been informed by Rosmerta Digital Services that they have not been compensated for the services they provided which are above the threshold value, and have proposed that the corporate insolvency resolution process be instituted against the company,” said Ola Electric.
Rosmerta Digital handles vehicle, part, and accessory sales for Rosmerta Technologies Ltd, which sells directly digitally-enabled monetized services. The company went to the NCLT a few weeks after Ola Electric said they were attempting to restructure Rosmerta Digital and Shimnit India’s billing in such a fashion that cost met efficiencies within the registration process.
Ola Electric has stated that they have completed the deployment of the Network Transformation and Opex Reduction Program, which is the second phase of a cross-company program to cut down on expenses and enhance customer satisfaction initiated in November 2024. This has resulted in an enduring monthly cost reduction of Rs 90 crores, and it is estimated will help the company’s automotive sector reach EBITDA breakeven by the first quarter of the next financial year.
Ola Electric has observed that the transformation of the company’s vehicle registration procedures is almost complete.
The car maker has indicated that it is “actively” contesting the assertions made by Rosmerta Digital in the insolvency petition and has sought counsel. “The company intends to take all steps that are appropriate in the circumstances n order to defend its interests and counter the claims in the details above,” said Ola Electric.
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