Ola electric scooters are seen outside the Ola Electric Service Centre, in Thane on the outskirts of Mumbai. File.
| Photo Credit: Reuters

The Central Consumer Protection Authority has slapped a Show Cause Notice on Ola Electric Mobility Ltd for alleged violation of consumer rights, misleading advertisement and unfair trade practices, Ola Electric Mobility said.

“We wish to inform you that the company has received Show Cause Notice from the Central Consumer Protection Authority,” the company informed the stock exchanges.

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“The Central Consumer Protection Authority has provided a timeline of 15 days to the company to respond to the show cause notice. The Company will respond within the given timeframe with the supporting documents,” it added.

The company received the Show Cause Notice vide email on October 7, 2024.

“Currently, the Show Cause Notice has no impact on financial, operational or other activities of the company. Furthermore, the Show Cause Notice which is issued by Central Consumer Protection Authority does not impose any penalties or financial fines,” it informed the exchanges.

At 10.07 a.m. on Tuesday Ola stock was down 0.65% to ₹90.23 on the BSE.

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