India, Feb. 18 -- EV major Ola Electric said that the arrest warrant issued against its founder and chief executive officer Bhavish Aggarwal has been stayed by the Bombay High Court at Goa.

In an exchange filing, the company said that the Bombay HC observed that "the Commission exceeded its jurisdiction under the Consumer Protection Act in issuing the warrant."

It was reported last week that the District Consumer Disputes Redressal Commission of South Goa issued a bailable arrest warrant against Aggarwal earlier this month. The order pertained to Aggarwal not showing up for a scheduled hearing in relation to a missing escooter that had been submitted to one of the company's service centres in Goa and since disappeared. The case has been...