Fresh Trouble for Ola Electric as Two Suppliers Move NCLT Over ₹40 Crore Dues

Two key suppliers of Ola Electric Technologies Pvt. Ltd., the operating arm of Ola Electric Mobility Ltd., have approached the National Company Law Tribunal (NCLT) seeking insolvency proceedings over alleged unpaid dues exceeding ₹40 crore, according to a Mint report.

The petitions have been filed by Sterling E-Mobility Solutions Ltd., the electric vehicle components arm of Sterling Tools Ltd., and Anevolve Mando eMobility Pvt. Ltd., a part of the Anand Group. Both companies have accused Ola Electric Technologies of failing to clear payments for components supplied to the EV manufacturer.

Dues Exceed ₹40 Crore

As per filings with the Ministry of Corporate Affairs (MCA), Ola Electric Technologies allegedly owes ₹29.8 crore to Sterling E-Mobility and ₹10.8 crore to Anevolve Mando. The report said the dues had remained outstanding for more than 45 days, prompting both suppliers to initiate legal proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, which deals with corporate insolvency resolution initiated by operational creditors.

The Bengaluru bench of the NCLT is scheduled to hear Sterling E-Mobility's petition on Monday, while Anevolve Mando's case has already undergone multiple hearings. The next hearing in Anevolve's petition is scheduled for July 27.

Ola Contesting the Claims

According to the Mint report, Ola Electric is contesting both petitions and has filed caveats before the tribunal. The disputes are understood to involve disagreements over payments as well as concerns raised by the company regarding the quality of certain components supplied by the vendors.

Neither Sterling E-Mobility nor Anevolve Mando responded to queries from Mint, while Ola Electric had not commented on the matter at the time of publication.

Sterling E-Mobility manufactures components such as traction motors, motor control units and DC converters, while Anevolve Mando supplies traction motors, controllers, inverters and AC/DC converters—critical components used in electric vehicles.

Another Legal Challenge for Ola

The latest petitions add to a series of legal and operational challenges for Ola Electric. Earlier this year, vehicle registration service provider Rosmerta Digital Services Ltd. had filed a similar insolvency petition over unpaid dues after Ola decided to shift its vehicle registration process in-house. That dispute was later settled outside court after the company agreed to clear the outstanding payments, according to the report.

While it remains unclear whether the current supplier disputes could disrupt Ola Electric's production, the previous disagreement with its registration partner had temporarily affected vehicle sales.

Financial Performance Under Pressure

The legal proceedings come after a difficult FY26 for the electric two-wheeler maker. Ola Electric reported a 50% year-on-year decline in revenue to ₹2,253 crore, while vehicle sales dropped 44% to 173,794 units. Although the company's net loss narrowed to ₹1,833 crore from ₹2,276 crore in FY25, it slipped to the fifth position in India's electric two-wheeler market, behind Bajaj Auto, TVS Motor, Ather Energy and Hero MotoCorp.

While the company has witnessed sequential improvement in sales in recent months, year-on-year growth continues to remain under pressure as competition in the electric mobility market intensifies.