India, March 25 -- Ola Electric Technologies Private Limited, a subsidiary of Ola Electric Mobility Limited, has settled all its pending dues with vehicle registration service provider Rosmerta Group, leading to the withdrawal of insolvency petitions previously filed against it.

Rosmerta Group has filed a memorandum for the withdrawal of the said petitions from the NCLT, Bengaluru.

"Ola Electric Technologies, a wholly owned subsidiary of Ola Electric Mobility, has settled all its dues. With the receipt of INR 26.75 Cr, which consists of the entire claim raised before NCLT, Rosmerta Group companies are withdrawing their petitions before NCLT, Bengaluru," an India Today report said quoting Rosmerta statement.

The development comes almost...