Ola Electric share price jumped 4% during Tuesday’s trading after the EV-focused company announced that Rosmerta Group has submitted documents to withdraw the petitions it had filed with the National Company Law Tribunal (NCLT) in Bengaluru, following an amicable settlement of all outstanding payments between its wholly owned subsidiary, Ola Electric Technologies Private Limited, and Rosmerta Group.
“Ola Electric has amicably settled all outstanding dues between its wholly owned subsidiary, Ola Electric Technologies Private Limited, and the Rosmerta Group. As a result, the Rosmerta Group has filed the memo for withdrawal of the petitions filed 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,” said the company in an exchange.
