Ola Electric

Ola Electric reversed a Rs 57 crore (~$6.8M) provision it had booked for potential penalties under India's battery-cell Production-Linked Incentive scheme in its June-quarter (Q1 FY27) results, before receiving formal approval from the Ministry of Heavy Industries for the extension and waiver it had requested. Statutory auditor BSR & Co. LLP (a KPMG India affiliate) issued a qualified audit opinion - the company's first since its 2024 listing - stating it could not obtain sufficient appropriate audit evidence in the absence of MHI approval. Ola Electric shares fell 5-6% on the news despite a narrower quarterly loss.

Ola Electric engineer K. Aravind died by suicide on September 28, 2025, leaving a 28-page note that alleged sustained workplace harassment, non-payment of salary and allowances, and excessive work pressure, naming CEO Bhavish Aggarwal and executive Subrat Kumar Das. Bengaluru police registered an FIR on October 6, 2025 against Aggarwal, Das, and other unnamed officials under Bharatiya Nyaya Sanhita provisions for abetment of suicide. A payment of roughly Rs 17.46 lakh transferred to Aravind's account two days after his death drew scrutiny as a possible attempted cover-up. It was the second suicide tied to workplace pressure at the Ola group in 2025, following the May 2025 death of a Krutrim machine-learning engineer. Ola Electric disputed the allegations, stated Aravind never raised a grievance and had no direct interaction with the promoter, and obtained Karnataka High Court protective orders against police action while the investigation continues.

India's Central Consumer Protection Authority (CCPA) issued a show cause notice to Ola Electric in October 2024 following over 80,000 consumer complaints on the National Consumer Helpline. Issues included battery fires, range and charging problems, software glitches, and poor service center experience. The CCPA investigation found potential violations of consumer rights and unfair trade practices.