SEBI Probes Ola Electric Over Suspected Manipulation of Sales Data

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Ola Electric is under scrutiny after discrepancies surfaced between its reported sales and official registration data. On February 28, the company claimed it had sold over 25,000 electric scooters, but VAHAN portal data reflected only about 8,600 registrations for that month.

Ola explained the gap by citing a temporary registration backlog caused by the termination of contracts with two third-party registration firms. The company assured that the issue would be resolved soon. However, further investigation revealed that around half of Ola’s reported February sales included undelivered bookings—specifically, 10,866 units of its Gen-3 e-scooters and 1,395 Roadster X motorcycles, both yet to be delivered.

Ola attributed the situation to its direct-to-consumer model, which differs from traditional dealership networks. In response to legal concerns, the Ministry of Road Transport and Highways directed Ola to revise its sales data to reflect only vehicles that are billed and delivered, warning of serious consequences if a clear explanation wasn’t provided within seven days.

In a separate issue, Ola was also reprimanded by the ministry for allegedly failing to provide valid trade certificates. A show-cause notice was issued, requiring the company to submit the number of operational stores and service centers, and disclose all trade certificates obtained in the past three years, along with issuance dates.

Authorities are now investigating whether Ola is storing unregistered vehicles at its outlets. The ministry has also asked for detailed model- and variant-specific data for the 7,820 scooters Ola claimed were delivered in February 2025.

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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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SEBI Probes Ola Electric Over Suspected Manipulation of Sales Data

Ola Electric is under scrutiny after discrepancies surfaced between its reported sales and official registration data. On February 28, the company claimed it had sold over 25,000 electric scooters, but VAHAN portal data reflected only about 8,600 registrations for that month.

Ola explained the gap by citing a temporary registration backlog caused by the termination of contracts with two third-party registration firms. The company assured that the issue would be resolved soon. However, further investigation revealed that around half of Ola’s reported February sales included undelivered bookings—specifically, 10,866 units of its Gen-3 e-scooters and 1,395 Roadster X motorcycles, both yet to be delivered.

Ola attributed the situation to its direct-to-consumer model, which differs from traditional dealership networks. In response to legal concerns, the Ministry of Road Transport and Highways directed Ola to revise its sales data to reflect only vehicles that are billed and delivered, warning of serious consequences if a clear explanation wasn’t provided within seven days.

In a separate issue, Ola was also reprimanded by the ministry for allegedly failing to provide valid trade certificates. A show-cause notice was issued, requiring the company to submit the number of operational stores and service centers, and disclose all trade certificates obtained in the past three years, along with issuance dates.

Authorities are now investigating whether Ola is storing unregistered vehicles at its outlets. The ministry has also asked for detailed model- and variant-specific data for the 7,820 scooters Ola claimed were delivered in February 2025.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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