OLA the Largest EV Company In The World _{(excluding China)} Received Show Cause Notice From CCPA

Ola Electric Mobility Limited has received a show cause notice from the Central Consumer Protection Authority (CCPA) in regards to widespread discontent from consumers regarding its services.

The show cause notice was issued by the central authority for alleged violations of consumer rights, misleading advertisements, and unfair trade practices.

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the filing was made on 7th October to both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

An analysis of the complaints showed that a large portion of the grievances were related to service or repair delays (3,364 complaints), delays in vehicle deliveries (1,899), and cases where promised services were not fulfilled (1,459). Additional complaints involved vehicle defects, inadequate resolution of issues, misleading advertisements, and failure to issue refunds for canceled bookings.

The Central Consumer Protection Authority (CCPA) has officially provided Ola Electric with a 15-day period to respond to the issued notice and submit all required documentation. In response, the Bhavish Aggarwal-run EV company has confirmed that it fully intends to cooperate with the CCPA's request and will ensure that all necessary documents are submitted within the stipulated time frame.The filing further noted that the show cause notice currently has no impact on the company's financial, operational, or other activities, and it does not impose any penalties or financial fines.

This development of show cause notice follows recent public criticism of Ola electric’s customer service, where the company CEO and comedian Kunal Kamra were engaged in a tweet tussle over service issues with Ola’s electric scooters.

Ola Electric Exchange Filing

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