Ola Electric files application to settle Sebi probe (opens original article in a new tab)

Ola Electric and its founder have filed a settlement application with Sebi to address allegations of spreading false information about service network expansion, sales performance, and electric motorcycle timelines.

• Ola Electric and founder Bhavish Aggarwal approached Sebi to settle allegations of disseminating false information to inflate stock prices.
• The settlement application seeks to resolve matters related to misleading claims on service network expansion, sales performance, and electric motorcycle rollout timelines without admission or denial of facts.
• Sebi alleged discrepancies in Ola Electric's announcements regarding service network expansion, sales figures, and Roadster motorcycle delivery timelines.