Ola Electric clarifies vendor disputes and arbitration proceedings

Ola Electric Mobility Limited has responded to stock exchange queries regarding media reports, clarifying its position on disputes with vendors Anevolve Mando E-Mobility and Sterling E-Mobility Solutions. The company initiated arbitration proceedings due to unresolved warranty and performance concerns with these suppliers. Subsequently, the vendors filed petitions under the Insolvency and Bankruptcy Code. Ola Electric is contesting these petitions, viewing the disputes as genuine and subject to arbitration. The company stated it is unaware of any undisclosed information that could explain trading movements and affirmed that the media report has no material impact on its business, operations, or financial standing. Ola Electric reiterated its commitment to regulatory compliance and timely disclosures.