Ola Electric Slips 5% As Suppliers Sterling, Anevolve Move NCLT Over Rs 40 Crore Dues
Ola Electric shares fell as much as 5.3% to Rs 42.1 after two suppliers approached the NCLT seeking insolvency proceedings over unpaid dues exceeding Rs 40 crore — Rs 29.8 crore to Sterling and Rs 10.8 crore to Anevolve, pending 45 days. The move adds pressure amid mounting supplier disputes and market-share erosion to TVS and Ather Energy.
What happened
Ola Electric shares fell 5% after two suppliers, Sterling and Anevolve, moved NCLT seeking insolvency proceedings over unpaid dues exceeding Rs 40 crore, amid
Key facts
- 5.3% intraday drop
- Rs 42.1 per share
- Rs 40 crore dues
- Rs 29.8 crore to Sterling
- Rs 10.8 crore to Anevolve
- 45 days pending
Why this matters
Unpaid dues escalating to NCLT reflect strained supplier terms that could complicate future partnerships, financing, or consolidation discussions unless liabilities are resolved and vendor trust is rebuilt.
What to watch
- NCLT admission or dismissal of the petitions
- Additional vendor filings or public dues complaints
- Q results cash position and payables aging disclosure
- Monthly registration data showing continued share erosion to TVS/Ather
- Any auditor or rating-agency commentary on liquidity
- Ola issues clarification framing dues as routine commercial dispute, not insolvency
- Company expedites payment to Sterling/Anevolve to secure petition withdrawal
- Brokerages revisit working-capital and cash-burn assumptions in updated notes
- Competitors quietly court Ola's stressed supplier base