Legal25 Mar 2025, 01:30 pm
Ola Electric Mobility Subsidiary Settles Dues with Rosmerta Group, Petitions Withdrawn
AI Summary
Ola Electric Mobility Limited has provided an update regarding the petitions filed by the Rosmerta Group under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Ola Electric Technologies Private Limited, a wholly owned subsidiary of Ola Electric Mobility Limited. The parties have amicably settled all applicable dues, leading to the withdrawal of the petitions. No further claims or disputes are pending between the parties.
Key Highlights
- Ola Electric Technologies Private Limited has settled all applicable dues with the Rosmerta Group
- The Rosmerta Group has filed a memo for withdrawal of the petitions from NCLT, Bengaluru
- No further claims or disputes are pending between the parties
- Ola Electric Mobility Limited remains committed to maintaining strong business relationships and ensuring timely resolution of any commercial issues