NCLT Issues Notice to Ola Electric in ₹9.57 Crore Insolvency Plea Over Alleged Default
The National Company Law Tribunal (NCLT) has taken a significant step against Ola Electric Technologies Private Limited by issuing notice in an insolvency petition. This move follows an operational creditor filing a case over a specific alleged default of ₹9.57 crore.The Bengaluru Bench of the NCLT passed this order while hearing a petition filed by Seoyon E-Hwa Summit Mobility Krishnagiri Private Limited. The company, which supplied automotive parts, is now seeking resolution proceedings against the EV manufacturer.
Insolvency Petition Details and Creditor Allegations
Seoyon E-Hwa Summit Mobility represented the operational creditor in the matter before the Tribunal. A Senior Advocate for the creditor informed the NCLT that Ola Electric owed a total amount of ₹21.19 crore at the time a statutory demand notice was issued on April 2, 2026.The operational creditor alleged that the liability dispute arose after receiving the demand notice. The company stated that Ola disputed the debt, citing issues related to warranty and the supply of spare parts. This led to payment being made by Ola amounting to ₹10.62 crore.
Outstanding Liability Focuses on NCLT Order
Following the partial payment, Seoyon E-Hwa Summit Mobility presented its case before the Tribunal. The outstanding balance, which forms the basis of the insolvency plea, has been calculated at ₹9.57 crore.The NCLT subsequently directed the issuance of a formal notice to Ola Electric Technologies in response to the petition. This directive is contingent upon the operational creditor supplying specific documents for review.
Conditions Set by NCLT Before Notice Issuance
The Tribunal mandated that the operational creditor must produce two key items before the notice can be fully processed. These required documents include the originally signed extract of a board resolution dated March 11, 2026. Additionally, the identity documents of the petition's signatory are mandatory submissions.The matter has been scheduled for further hearing on August 31, 2026. This filing marks the second insolvency petition received against Ola Electric Technologies in recent months. Prior to this case, Anevolve Mando Emobility Private Limited had filed a complaint seeking initiation of corporate insolvency resolution over an alleged default of ₹9.84 crore.
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