India, March 15 -- Rosmerta Digital Services has filed a plea to initiate insolvency proceedings against Ola Electric Technologies, a wholly owned subsidiary of Ola Electric Mobility, for allegedly defaulting on its payment obligations.

The petition, submitted before the Bengaluru bench of the National Company Law Tribunal (NCLT), has alleged a payment default for services rendered and seeks initiation of corporate insolvency resolution process (CIRP) proceedings against Ola Electric Technologies.

"We wish to inform you that a petition has been filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 ("IBC") by M/s. Rosmerta Digital Services Limited, an Operational Creditor of Ola Electric Technologies Private Limited, a wholly...