Ola Electric shares fall 5% as two suppliers file NCLT insolvency pleas over ₹40 crore dues
Synopsis
Two of Ola Electric's suppliers have knocked on the NCLT's door over more than ₹40 crore in allegedly unpaid dues — and the market responded sharply, sending the stock down over 5% even as the broader index gained. With a prior insolvency petition already on record from 2025, the pattern raises pointed questions about the EV maker's vendor payment discipline.
Key Takeaways
Ola Electric Mobility shares fell 5.3 per cent to an intra-day low of ₹42.10 on 6 July .
Suppliers Sterling (₹29.8 crore) and Anevolve Mando (₹10.8 crore) have filed insolvency petitions at the NCLT Bengaluru bench over alleged unpaid dues exceeding ₹40 crore .
Both dues have reportedly remained unpaid for more than 45 days , per MCA filings cited in reports.
The NCLT was scheduled to hear Sterling's petition on 6 July , nearly a month after hearing Anevolve Mando's plea.
This follows a similar insolvency petition filed in 2025 by a vehicle registration agency, marking a recurring pattern of supplier disputes.
Ola Electric Mobility shares slid more than 5 per cent in intra-day trade on Monday, 6 July, after reports emerged that two suppliers to its operating arm had approached the National Company Law Tribunal (NCLT) seeking insolvency proceedings over alleged unpaid dues exceeding ₹40 crore. The stock touched an intra-day low of ₹42.10, a fall of 5.3 per cent, even as the broader Nifty50 index was up 0.78 per cent at the same time.
The Suppliers and Their Claims
According to reports, Sterling and Anevolve Mando — both suppliers to Ola Electric Technologies Private Limited — have filed insolvency petitions before the NCLT over dues that have reportedly remained unpaid for more than 45 days. Citing filings made with the Ministry of Corporate Affairs (MCA), reports indicate that Sterling is owed ₹29.8 crore and Anevolve Mando is owed ₹10.8 crore, bringing the combined alleged outstanding amount to over ₹40 crore.
NCLT Hearing Schedule
The NCLT's Bengaluru bench was scheduled to hear Sterling's petition on Monday, 6 July — nearly a month after it had heard Anevolve Mando's plea. The delayed payments reportedly prompted both companies to escalate to the tribunal rather than pursue bilateral resolution.
A Pattern of Supplier Disputes
Notably, this is not the first time Ola Electric has faced insolvency-related action from its supply chain. A similar petition was filed in 2025 by one of the company's vehicle registration agencies over payment-related issues. The recurrence of such disputes points to a broader concern about the EV maker's vendor payment cycles at a time when it is navigating intense competition and a challenging path to profitability.
Stock Performance Context
At noon on Monday, the stock was trading 5.02 per cent lower. Over the preceding one month, the shares had already declined by ₹2.39, or 5.38 per cent. Over a six-month window, the stock delivered a negative return, falling ₹1.54, or 3.53 per cent. The intra-day fall on Monday underscores how sensitive the scrip remains to adverse news flow around the company's operational and financial health.
What to Watch
The outcome of the NCLT Bengaluru hearing on Sterling's petition will be closely watched. Any admission of the insolvency plea could trigger further selling pressure and raise questions about Ola Electric's working capital management. Investors and analysts are likely to seek a formal response from the company addressing the alleged dues and its vendor payment timelines.
Point of View
Now two component suppliers in 2025. Recurring NCLT filings suggest that delayed payments may be systemic rather than incidental, pointing to pressure on Ola Electric's working capital. For a company still burning cash on its path to profitability, a reputation for slow vendor payments could complicate future supply chain negotiations precisely when it needs suppliers most. The NCLT Bengaluru hearing outcome deserves close attention.
NationPress
6 Jul 2026
Frequently Asked Questions
Why did Ola Electric shares fall on 6 July?
Ola Electric shares fell over 5 per cent on 6 July after reports said two of its suppliers — Sterling and Anevolve Mando — had filed insolvency petitions at the NCLT over alleged unpaid dues exceeding ₹40 crore. The stock hit an intra-day low of ₹42.10 even as the broader Nifty50 was trading higher.
Who are the suppliers that filed insolvency petitions against Ola Electric?
The two suppliers are Sterling, which is allegedly owed ₹29.8 crore, and Anevolve Mando, which is allegedly owed ₹10.8 crore. Both are suppliers to Ola Electric Technologies Private Limited and have approached the NCLT's Bengaluru bench after dues reportedly remained unpaid for over 45 days.
What is the NCLT hearing schedule for these petitions?
The NCLT Bengaluru bench was scheduled to hear Sterling's petition on 6 July 2025, nearly a month after it had already heard Anevolve Mando's plea. The outcome of these hearings will determine whether the insolvency proceedings advance further.
Has Ola Electric faced similar supplier disputes before?
Yes. A vehicle registration agency filed a similar insolvency petition against Ola Electric in 2025 over payment-related issues. Monday's development marks the latest in what appears to be a recurring pattern of supplier-related payment disputes.
What has been Ola Electric's recent stock performance?
Over the one month prior to 6 July, Ola Electric shares had declined 5.38 per cent, and over six months the stock delivered a negative return of 3.53 per cent. The intra-day fall of over 5% on 6 July added to this underperformance against the broader market.
