Ola Electric Mobility on Tuesday said its subsidiary Ola Electric Technologies Pvt Ltd has amicably settled all dues with its former vehicle registration services provider, Rosmerta Group.
Ola Electric Technologies Pvt Ltd has settled all dues amicably with Rosmerta Group. Subsequently, Rosmerta Group said in a regulatory filing that it had submitted a memorandum to the NCLT, Bengaluru, requesting the withdrawal of the above petition.
“The parties have no further claims or disputes regarding this matter,” it said.
Ola Electric Mobility said the company remains committed to maintaining strong business relationships and ensuring timely resolution of any commercial issues.
Earlier this month, Rosmerta Digital Services Ltd had sought to initiate insolvency proceedings against Ola Electric Technologies Pvt Ltd and filed a petition at the National Company Law Tribunal (NCLT), Bengaluru, accusing the latter of defaulting in payment for services rendered.
Last week, Ola Electric said it terminated contracts with two national vendors managing its registration process as part of its strategy to streamline operations and improve profitability.
In February, its registration was temporarily affected after the company announced it was renegotiating the terms of its agreement with the two institutions to cut costs and make the registration process more efficient.
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