Comments
Ola Electric, an electric two-wheeler manufacturer receives a show-cause notice from the Central Consumer Protection Authority (CCPA) on October 7 for alleged violation of consumer rights, misleading advertisement, and unfair trade practices.
The company is expected to file a reply to the CCPA within 15 days. The show-cause notice has no impact on financial, operational, or other activities of the company, said the company in a statement. Furthermore, the notice does not impose any penalties or financial fines.
The company began 2024 with a strong performance, selling 40,814 units in July. However, it subsequently experienced a decline in sales. In September, Ola’s month-on-month sales dropped by 10.6%, falling to 24,665 units from 27,589 units in August.
The shares of Ola Electric were trading at Rs 94.62, up by 4.8 percent at 3:05 PM on the BSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.