India, March 21 -- Ola Electric said it has received notices in four states with regard to trade certificates for a few of its stores, and it is in the process of responding to them

This comes amid reports that the company's stores have been seeing raids by regional transport offices in multiple states of the country for not having the required trade certificates.

Earlier, a Bloomberg report said that about 95% of the Bhavish Aggarwal-led company's 3,400 showrooms across India are selling or offering test rides to users without the required trade certificate. While a spokesperson of the company called the agency's investigation "misplaced" and "prejudiced", this is the first disclosure by it to the exchanges on the issue.

The disclosur...