NCLT Bengaluru Issues Notice To Ola Electric Technologies In ₹9.57 Crore Insolvency Plea

Today, the Bengaluru Bench of the National Company Law Tribunal (NCLT) issued notice in an insolvency petition against Ola Electric Technologies Private Limited after an operational creditor alleged that the company defaulted on payment of Rs. 9.57 crore.

A Bench comprising Judicial Member Sunil Kumar Aggarwal and Technical Member Banwari Lal Meena held:

"Subject to producing the originally signed extract of board resolution dated 11.03.2026, appearing on page 28 of the paper book, and identity documents of signatory to petition, let notice of petition be sent to respondent."

Seoyon E-Hwa Summit Mobility Krishnagiri Private Limited filed the insolvency petition against Ola Electric Technologies.

Senior Advocate Dhyan Chinnappa, appearing for the operational creditor, submitted that the company supplied automobile parts to Ola. He submitted that Ola owed Rs. 21.19 crore when the operational creditor issued the statutory demand notice under the Insolvency and Bankruptcy Code, 2016 on 2 April 2026.

The operational creditor stated that Ola disputed the liability after receiving the demand notice, citing warranty related issues and supply of spare parts. It further stated that Ola later paid Rs. 10.62 crore, leaving an outstanding amount of Rs. 9.57 crore.

After hearing the submissions, the Tribunal directed issuance of notice to Ola Electric Technologies after the operational creditor complies with the directions regarding the board resolution and identity documents.

Accordingly, the NCLT posted the matter for further consideration on 31 August 2026.

This is the second insolvency petition filed against Ola Electric Technologies in recent months. Earlier, Anevolve Mando Emobility Private Limited approached the NCLT seeking initiation of the corporate insolvency resolution process against the company over an alleged default of Rs. 9.84 crore.

For Petitioner: Senior Advocate Dhyan Chinnappa and Advocate Jay Zaveri