Sebi warns Ola Electric over disclosure norms breach, ET LegalWorld
Bengaluru: Markets regulator Sebi issued a warning to Ola Electric Mobility for violating disclosure norms after its founder, Bhavish Aggarwal, announced key expansion plans on social media before notifying the stock exchanges. This move contravenes market regulations designed to ensure timely and equitable dissemination of price-sensitive information. The incident occurred on Dec 2 when Aggarwal […]
Karnataka HC grants Ola Electric 6-week extension to respond to CCPA’s data request, ET LegalWorld
Highlights The Karnataka High Court has granted Ola Electric a six-week extension to respond to the Central Consumer Protection Authority’s request for additional documents and information regarding a previous response. Ola Electric reported that 99.1% of the 10,644 complaints received from the Central Consumer Protection Authority were resolved to the complete satisfaction of customers, showcasing […]
Markets regulator SEBI sends notice to Ola Electric for violating disclosure norms, ET LegalWorld
Electric vehicle (EV) company Ola Electric Mobility Limited has received an administrative warning from the markets regulator, the Securities and Exchange Board of India (SEBI), for violating disclosure norms. The reason cited is that Ola Electric announced its e-scooter expansion plans first on social media instead of announcing it on the stock exchanges. In an […]
NCLT directs initiation of insolvency proceedings against Hero Electric, ET LegalWorld
The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Hero Electric after admitting a plea filed by Metro Tyres, an operational creditor claiming a default of Rs 1.85 crore. As per provisions of the Insolvency & Bankruptcy Code (IBC), NCLT has appointed Bhoopesh Gupta as Interim Resolution Professional to run the […]
Delhi HC gives nod to SFIO to continue probe against Hero Electric Vehicles, ET LegalWorld
Hero Electric told the HC that this is a “classic case where a pure civil dispute has been given a taint of criminality” to gain an advantage in a pending civil dispute filed by it in the Punjab and Haryana HC. The Delhi High Court on Friday gave nod to the Serious Fraud Investigation Office […]
Ex-employee wins ₹39 lakh in labour Court ruling against Schneider Electric, ET LegalWorld
Highlights A Labour Court awarded an amount of ₹ 39,12,965.41 to an ex-employee of Schneider Electric Infrastructure Limited, which is ten times the penalty on the deducted amount under Section 15 of the Payment of Wages Act, 1936. The application related to the wage claims was filed on June 24, 2024, with an order reserved […]
IndiGo sues Mahindra Electric for using ‘6E’ in new EV SUV, automaker replies, ET LegalWorld
After InterGlobe Aviation, which operates IndiGo airline, filed a trademark infringement lawsuit against Mahindra Electric for using ‘6E’ in its new car, the automaker said on Tuesday they do not see a conflict and are engaged in discussions with the budget airline to find an amicable solution. InterGlobe Aviation filed the trademark infringement lawsuit in […]
Legal Experts weigh in on potential implications CCPA’s Show Cause Notice to Ola Electric, ET LegalWorld
On October 7, the Ola Electric Mobility Limited has received Show Cause Notice from the Central Consumer Protection Authority. The Show Cause Notice has been issued by Central Consumer Protection Authority for alleged violation of consumer rights, misleading advertisement and unfair trade practices. “From the consumer protection perspective, a show cause notice is usually issued […]
State Of U.P. And 2 Others vs M/S Prayag Electric Company And Another on 3 October, 2024
Allahabad High Court State Of U.P. And 2 Others vs M/S Prayag Electric Company And Another on 3 October, 2024 HIGH COURT OF JUDICATURE AT ALLAHABAD Neutral Citation No. – 2024:AHC:161915 Court No. – 5 Case :- APPEAL UNDER SECTION 37 OF ARBITRATION AND CONCILIATION ACT 1996 DEFECTIVE No. – 213 of 2024 Appellant :- […]
Delhi Government Extends EV Policy Until March 2025 to Boost Electric Vehicle Sales, ET LegalWorld
Govt is going to extend its electric vehicle (EV) policy till March 2025, which will end the long wait of Delhiites for the subsidy and other incentives linked with the purchase of an e-vehicle. It is likely to be the last extension before the introduction of the EV policy 2.0. The transport minister has instructed […]