CCPA seeks additional documents from Ola Electric for ongoing investigation
Ola Electric for additional documents as part of its ongoing investigation into the electric two-wheeler manufacturer.
“In continuation of the earlier letter received from the Central Consumer Protection Authority dated December 04, 2024, by Ola Electric Mobility Limited (the Company) we would like to inform you that the Company has received further request for information via email dated January 10, 2025,” Ola Electric said in an exchange filing on Friday.
This comes days after the Karnataka High Court granting the Bhavish Aggarwal-led firm a six-week extension to submit its response to the CCPA. The CCPA first issued the show-cause notice to Ola Electric on October 8, 2024 over alleged consumer rights violations, misleading advertisements, and unfair trade practices.
In its response on October 21, the company claimed it had resolved 99.1% of the 10,644 complaints it had received. However, on December 4, the CCPA sought additional documents and information, giving Ola Electric 15 days to respond.
The Bengaluru-based company is already grappling with several challenges, includingtop-level management exits and consumer complaints about vehicle quality. Earlier this week, the Securities and Exchange Board of India (Sebi) issued a warning to Ola Electric for breaching disclosure regulations after CEO Aggarwal announced its expansion plans on social media before notifying stock exchanges.
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