Ola Electric did not have an appropriate internal control system for physical verification of scooters at its stores and state distribution centres, leading to a material weakness at one of its wholly owned subsidiaries, the company’s statutory auditor has said.
Ola Electric Technologies, the operating subsidiary of Ola Electric Mobility that accounted for the majority of the company’s revenue in FY25, is seen as having the deficiency.
The “material weakness” in internal controls, which could potentially affect inventory reporting, was flagged…
