Ola Electric Faces Serious Allegations 🚨
Ola Electric has recently been accused of manipulating its sales figures for February. This allegation suggests that the sales data reported by the company does not match the information available on the vehicle portal. Concerns about possible data manipulation led the Ministry of Heavy Industries to take action and request a report from Ola Electric.
Ola Electric Responds to Accusations 🗣️
In its first official response, Ola Electric stated that its sales in February were actually strong. The company explained that discrepancies in the data arose from negotiations with vendors. They assured that they are working hard to clear the backlog of sales data, with 40% already resolved. Ola Electric also mentioned that they expect to clear the remaining backlog by the end of March.
Raids Conducted on Dealerships 🕵️♂️
The situation escalated when the company’s dealership in Mumbai was raided, followed by similar actions in Madhya Pradesh and Pune. The Maharashtra Transport Commissioner conducted raids at 12 locations to investigate claims of sales data manipulation. These raids were triggered by ongoing complaints about the company’s practices.
Ministry of Heavy Industries Takes Action ⚖️
Following the complaints, the Ministry of Heavy Industries sought a detailed report regarding the alleged data manipulation. Additionally, the Securities and Exchange Board of India (SEBI) received a complaint related to stock manipulation. During these investigations, action was taken against 11 dealers, and 20 vehicles were seized, although no penalties have been imposed yet.
Importance of Trade Certificates 📜
It is crucial to note that under the Central Motor Vehicle Act of 1988, having a trade certificate is mandatory for vehicle registration and business operations. Selling vehicles without this certification is considered a punishable offense. Ola Electric is responding to all notices received from various states regarding trade certification for its stores.
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