Ola Electric Under SEBI Scrutiny for Sales Reporting Practices, Again!

India's market regulator has opened an inquiry into Ola Electric's sales reporting methods, focusing on potential irregularities in the company's February, 2025 figures. The Securities and Exchange Board of India (SEBI) is examining both recent and historical filing patterns from the Bengaluru-based EV manufacturer, with particular concern about whether shareholders received accurate information or not.

The investigation centres on a substantial gap between Ola's self-reported sales and official registration data. While the company announced selling over 25,000 electric scooters in February, government vehicle registration records through the VAHAN portal showed just 8,600 registrations for the same month.

(Also Read: Ola Electric’s Daily Vehicle Registration Surge By 50 Fold)

When questioned about this difference, Ola cited registration processing delays after terminating contracts with two registration service providers. Further analysis revealed that roughly half of Ola's claimed February "sales" actually represented pre-orders for vehicles not yet in production or delivery—specifically, nearly 11,000 bookings for upcoming third-generation scooters and about 1,400 bookings for a motorcycle model, which is yet to go on sale.

Transportation authorities have now stepped in, instructing Ola to adjust its sales reporting methodology to count only vehicles actually delivered and billed. Officials have given the company a seven-day deadline to explain the discrepancies or face potential penalties.

(Also Read: Ola Electric “Amicably Settled All Outstanding Dues” With Rosmerta Group)

The company faces additional regulatory challenges beyond the sales reporting issue. Transportation ministry officials have issued a separate notice questioning Ola's trade certification compliance, requesting detailed information about the company's retail and service locations. Authorities are also investigating whether Ola is maintaining stocks of unregistered vehicles at its outlets, demanding specific documentation regarding the approximately 7,800 electric scooters the company claims to have delivered during February.

(Also Read: Ola Electric Showrooms Raided For Trade Certificate Violation, Vehicles Seized)