Ola Electric Shares Drop 6% Amid Insolvency Petition

Ola Electric’s stock fell nearly 6% after Rosmerta Digital Services Ltd filed an insolvency petition against its subsidiary, Ola Electric Technologies. The petition, submitted to NCLT Bengaluru, alleges payment defaults. Ola Electric disputes the claims and seeks legal recourse. The company is also renegotiating agreements to cut costs and streamline operations.