Ola Electric Company is under the surveillance of SEBI and the government these days. According to media reports, SEBI is investigating Ola Electric’s February sales disclosure. In fact, in February 2025, the company claimed that it sold 25,000 electric vehicles and achieved 28% market share in electric two-wheelers. But according to the data recorded on the government website VAHAN, only 8,600 vehicles of Ola were registered in February. SEBI is investigating this huge difference. The Union Transport Ministry has also given notice 4 days ago, the Union Transport Ministry has issued a show-cause notice to Ola. The ministry has sought answers to many important questions within 7 days. If Ola does not respond on time, legal action can also be taken against it. Answers to these questions were sought from Ola in the notice On April 22, instructions were given to take action on 121 stores in Maharashtra Three days ago, the Transport Department in Maharashtra has given instructions to close 121 Ola stores. The Transport Department had inspected 146 Ola stores, out of which more than 121 stores were running without trade certificate. In fact, last month RTO had raided many Ola stores in Maharashtra. Due to absence of trade certificate at the stores, 192 vehicles were seized and show cause notices were issued. Share of Ola Electric falls 35% in 6 months On Tuesday, Ola Electric share closed at ? 50 with a rise of 1.47%. Share of Ola has fallen by more than 4% in a month. Whereas in the last one year, the share has fallen by more than 45%. The market capital of Ola is Rs. 22.14 thousand crores. Ola’s stores were raided 4 times RTO action was taken on Ola’s stores across the country. So far, 32 stores in Maharashtra and Madhya Pradesh have been raided. Apart from this, action has also been taken on some stores in Rajasthan. More than 50 electric vehicles have been seized in this. Action after complaint from other companies Gurugram’s Pratap Singh & Associates Company had filed a complaint against Ola Electric and some other companies for not having a trade certificate. After the complaint, Maharashtra transport officials took action. 95% of the stores do not have basic certification Ola Electric has opened 4,000 stores since 2022. According to the Economic Times report, data of only about 3,400 showrooms is available out of these. Out of 3,400, only 100 showrooms had the necessary trade certificates under the Motor Vehicles Act. More than 95% of the company’s stores do not have the basic certification required to display, sell and offer test rides of unregistered two-wheelers. Ola Electric said – The raid action was wrong and biased. On the raid action, a spokesperson of Ola Electric had said that no vehicle was seized. Earlier, Ola had described the investigation as wrong and biased. The spokesperson had said that there is inventory of unregistered vehicles in Ola’s distribution centers and warehouses in many states. It fully complies with the guidelines of the Motor Vehicles Act and the necessary approvals are in place. The company had not given any information regarding the raids on the stores.
