OLA ELECTRIC COMPENSATION
Ola Electric ordered to refund Rs 1.34 lakh and pay another Rs 1 lakh in compensation and legal costs after failing to deliver Roadster X Plus bike despite receiving full payment
Ola compensation news: A consumer commission ordered Ola Electric to refund a customer Rs 1,34,161. This followed the company's failure to deliver an electric motorcycle for months after full payment. The commission also awarded Rs 90,000 for loss of livelihood and mental agony. Ola had argued delivery dates were indicative and depended on availability. The commission found Ola's explanation for the delay insufficient and ordered payment within 45 days.
Ather & Ola Electric: A tale of two contrasting rides
Ather Energy's stock price has significantly increased since its IPO. Ola Electric's shares are currently trading below their initial public offering price. Ather's average monthly sales have risen, while Ola's have declined sharply. Product development and management strategy differentiate these two electric scooter companies. Hero MotoCorp continues to invest in Ather, showing strong confidence in its future.
Ola Electric ordered to pay Rs 25,000 compensation, refund Rs 1.03 lakh to Kerala man over faulty scooter
A Kerala consumer commission found Ola Electric guilty of service deficiency and unfair trade practices. The commission ordered Ola Electric to refund the scooter's purchase price of Rs 1,03,999. It also directed the company to pay Rs 25,000 compensation and Rs 5,000 for costs. The customer's electric scooter had repeated faults during its warranty period. Ola Electric failed to provide adequate after-sales service for the defective vehicle.
Ola Electric ordered to pay Rs 45,000 and fix scooter trunk for free after court finds it ignored warranty repairs for over two months
Ola Electric compensation: An advocate from Ananthapuramu purchased an Ola S1 Pro in October 2022 and reported a trunk lock failure within the warranty period. Despite multiple service visits, emails and a legal notice, Ola Electric never fixed the problem. The District Consumer Commission has now directed the company and its local service centre to repair the trunk free of cost and pay Rs 45,000 in compensation.
Bailable warrant issued against Ola founder Bhavish Aggarwal. Here’s why
A South Goa consumer court has issued a bailable warrant for Ola Electric CEO Bhavish Aggarwal. He failed to appear for a hearing regarding a customer's faulty scooter. The court ordered Bengaluru police to arrest him and produce him on February 23. The case involves a customer seeking a refund and compensation for a scooter with motor and touchscreen issues.
Manufacturers beef up legal teams amid evolving rules
Manufacturing companies are strengthening their in-house legal leadership as business activity accelerates and regulatory complexity rises. Demand for senior legal talent is being driven by tighter scrutiny, new labour codes, ESG and data rules, and a surge in cross-border deals, capacity expansion and compliance-heavy projects.
- Go To Page 1
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Ola’s brand move; Tata looks to go Dutch
Happy Monday! Bhavish Aggarwal plans to shift Ola’s IP to a family office-run holding firm. That and more in today’s ETtech Morning Dispatch.
Sebi’s Esop turnaround; Ola Electric’s troubled week
Market regulator Sebi is tweaking Esop rules for startup founders. This and more in today’s ETtech Top 5.
Tamil Nadu to subsidise e-scooter purchases by some gig workers
Tamil Nadu will offer a 20,000 rupees subsidy to 2,000 gig workers to buy e-scooters and introduce an insurance scheme for 150,000 workers to cover accidental death and disability. The state plans to set up lounges for workers in large cities including Chennai. The initiative aims to support the growing number of gig workers in the region.
Layoffs at Ola Electric; ED notice hits Paytm stock
Ola Electric has implemented significant job cuts amidst ongoing challenges. This and more in today’s ETtech Top 5.
Listed startups get a delivery of reality: It's hot on the Street
The tide is expected to turn for some of the companies including Swiggy and Mobkwik over the next few quarters. ETIG offers a snapshot of key takeaways from the recently concluded results season for each of these startups.
Tesla and Chinese carmakers could see windfall from EU emissions rules
European automakers face challenges from stricter EU carbon emission regulations, leading them to buy emissions credits from rivals like Tesla and Chinese companies. The regulations, mandating increased zero-emissions cars production, threaten fines up to billions of dollars if targets aren't met. They argue for a flexible approach considering economic disruptions.
Senior executives flock to startups poised for public market glory
Many of these people, from both within the startup sector and outside, are exploring opportunities at companies that are likely to hit the bourses in the next couple of years, said search firms and startup founders. The lure for them is the potential for wealth creation that successful listings open up.
Do CEOs active on social media pose a risk to company's goodwill?
Zomato CEO Deepinder Goyal's recent hiring criteria and subsequent retractions highlight a growing trend of CEOs facing backlash for social media posts. While responsiveness is important, repeated incidents can impact a company's reputation, attract regulatory scrutiny, and even affect stock valuation, as seen with Ola Electric and Paytm.
Kunal Kamra now wants to work for Bhavish Aggarwal's Ola but conditions apply
After publicly criticizing Ola Electric’s after-sales service, comedian Kunal Kamra has accepted an offer from CEO Bhavish Aggarwal to join the company but with several conditions. Kamra’s requirements focus on faster repair timelines, customer compensation, and service insurance. This comes amid Kamra’s calls for government action, tagging Union Minister Nitin Gadkari to intervene in Ola Electric’s service concerns. The ongoing exchange highlights growing concerns about service quality for electric scooter customers across India, which Ola has yet to address directly.
Surprise poll results impact startups' plans, and other top stories this week
In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting day, with both benchmark indices, Sensex and Nifty50, dropping 8% intraday. They recovered a day later as hopes of a stable government revived.
How startups are changing their hiring strategies to streamline costs
Facing a prolonged funding drought, startups are trying a new approach to cost-cutting. Layoffs continue, but some companies, like Swiggy and Ola, are strategically refilling certain open positions with lower-salaried junior staff, according to industry insiders.
IIM Indore completes final placements with 150+ recruiters making offers to 594 students
Consulting attracted 25% of the total offers, while the finance cohort made up 19% of the total offers. Recruitments in the sales & marketing function formed 19% of the total offers and 12% of the batch opted for IT/analytics roles. 25% of the batch was extended offers for roles in general management, HR & operations.
Bajaj Auto Q3 Results: Co tops Rs 2,000 crore quarterly profit for first time
Maker of the Pulsar and Discover motorcycles beats market estimates with a Rs2,042 crore net profit in Q3, compared with Rs1,491 crore a year earlier and the average estimate of Rs1784.50 crore in a Bloomberg poll of analysts.
IT slowdown to hit appraisals; Ghazal Alagh on Mamaearth’s growth strategy
Pay increases at top tier Indian IT firms could halve from a year ago as the $245-billion industry faces a major slowdown. This and more in today’s ETtech Morning Dispatch.
Better to stay away from IGL and MGL, say analysts
With the proposed road map by the Delhi government mandating a phased shift of all cab aggregators and delivery vehicles, to electric by 2030 seen impacting Indraprastha Gas (IGL), analysts are expecting its shares to continue underperforming in the near term. The company derives over 70% of its revenues from compressed natural gas (CNG).
Mercedes CEO pushes for open markets as China tensions grow
Last week, the European Union opened a probe into Chinese subsidies for EVs, bringing into focus the surging industrial and geopolitical competition between two economies.
Exclusive: OpenAI’s Sam Altman talks to ET; Paymate to refile IPO papers
Large companies operating in the artificial intelligence (AI) space should be regulated but this should not affect startups, Sam Altman, founder and CEO of OpenAI that developed ChatGPT, said in a conversation with ET.
Insurance premiums on electric two-wheelers may rise
There have been multiple two-wheeler fires said to involve batteries recently, with some even resulting in loss of life.
Fresh round of exits likely at Royal Enfield, post CEO's departure
Close on the heels of Vinod Dasari’s resignation as chief executive of Royal Enfield, the maker of the Bullet motorcycles may potentially see a fresh round of exits at the top.
Zomato responds to ad controversy; Ola chooses banks for IPO
Ola has chosen three banks — Kotak Investment Banking, Citigroup and Morgan Stanley — to manage its $1-billion IPO. PhonePe has received an insurance broking licence from the industry regulator.
Flipkart could face huge fine; Jupiter raises $45M
Flipkart, Binny Bansal and Sachin Bansal, as well as Tiger Global may get fined Rs 10,000 crore. Neobank Jupiter has raised $45 million from Brazil’s Nubank. Swiggy has tied up with Reliance BP Mobility for building an EV ecosystem.
Karnataka plan for an EV cluster near Bengaluru yet to take off due to land acquisition issues
Industries minister Jagadish Shettar told ET that the government was making efforts to complete the land acquisition soon, and was simultaneously tapping investors to set up their units here. The government has been in talks with some EV firms to get them to the proposed cluster, he added.
Load More
