Ola Electric shares in focus after CCPA seeks additional documents on consumer complaints
Ola Electric shares will be in focus on Friday after the Central Consumer Protection Authority (CCPA) requested additional documents and information from the electric two-wheeler manufacturer in connection with a previously issued show cause notice.
The communication, sent via email on December 4, gives the company 15 days to submit its response, Ola Electric said in a filing with stock exchange Thursday.
The CCPA had on October 8 served a show cause notice on Ola Electric, seeking its response to allegations of consumer rights violation, misleading advertisements and unfair trade practices.
In its response on October 21, Ola Electric claimed that it resolved 99.1% of the 10,644 complaints it received.
In its exchange filing, the Bhavish Aggarwal-led company said the CCPA notice has no impact on its financial, operational or other activities.
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