Ola Electric’s subsidiary clears ₹26.75 cr dues with Rosmerta Group

EV player Ola Electric has settled its pending dues amounting to ₹26.75 crore between its subsdiary, Ola Electric Technologies Private Limited, and the Rosmerta Group.

In its official statement, Ola stated that it has fulfilled the payment obligations, leading to the Rosmerta Group filing a memo to withdraw the petitions before the National Company Law Tribunal (NCLT), Bengaluru. “The matter now stands fully resolved. Ola Electric remains committed to fulfilling its obligations and maintaining professional relationships with all stakeholders,” the company added.

The subsidiary was alleged by the Rosmerta Group of failing to meet payment obligations. Rosmerta, which operates as Ola’s vendor by supporting vehicle registration and providing high-security registration plates, had filed an insolvency petition against Ola before the NCLT in Bengaluru. The matter had not yet been admitted when the settlement was reached.

Rosmerta in its official statement said no further causes of action exist between Rosmerta Group and Ola Electric, whose relationship shall now be governed by the Settlement Agreement executed between them.