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- By Aditya Pratap Singh
- Tue, 25 Mar 2025 11:57 AM (IST)
- Source:JND
Ola Electric Share Price: Shares of Ola Electric Mobility Ltd jumped over 4% on Tuesday after the company said that Rosmerta Group had withdrawn its petition before the National Company Law Tribunal (NCLT), Bengaluru. The news comes following the amicable resolution of all pending dues between Ola Electric Technologies Pvt Ltd, a wholly-owned subsidiary of Ola Electric, and Rosmerta Group.
However, electric vehicle mobility stock pared all its early gains and was trading in negative territory at around 11:46 am following heavy selling. Ola Electric shares were trading at Rs 54.22, down 2.71% on NSE. In the morning the stock opened at Rs 57.50, up against the previous day's closing price of Rs 55.73, and in a while, it soared up to to hit an intraday high at 57.73.
Ola settles debt with Rosmerta Group
In a regulatory filing to BSE and NSE, Ola Electric confirmed that the issue is now fully resolved and reiterated its intention to continue honouring obligations and maintaining professional relationships with stakeholders.
Rosmerta Group, in another statement, informed that it has received Rs 26.75 crore, thereby settling the entire claim made before the NCLT. "With the receipt of Rs 26,75,24,339/-, the Rosmerta Group companies are withdrawing their petition before the NCLT, Bengaluru," the company said, adding that there is no longer any dispute between the two entities. Their relationship will now be regulated by a settlement agreement.
Ola Electric Shares Performance
Following the announcement, shares of Ola Electric rose 4.09% to hit an all-time high of Rs 58 on the BSE, before closing 1.4% higher at Rs 56.50. Despite this surge, the stock has declined over 33% so far in 2025 and 45% in the last six months.
Earlier, Rosmerta Digital Services had moved the NCLT against Ola Electric Technologies alleging default in payments and claimed corporate insolvency resolution process against the company. However, Ola Electric rejected the allegations and promised investors that it will do whatever is legally required to protect its interests.
Through this agreement, Ola Electric has reaffirmed its intention to settle commercial disputes promptly and maintain good business relationships with partners.
Disclaimer: This is just a piece of news about recent development in the stock. Jagran does not advise investing, please take expert advise before investing.