Ola Electric Yatafuta Makubaliano na SEBI Kuhusu Madai ya Utoaji Taarifa za Kupotosha

Ola Electric na mwanzilishi wake, Bhavish Aggarwal, wameifikia rasmi Securities and Exchange Board of India (SEBI) ili kumaliza uchunguzi kuhusu madai ya kusambaza taarifa za uongo. Kampuni hiyo inatafuta suluhu ya kirafiki ili kuepuka kesi ndefu za kisheria kuhusiana na madai yaliyotolewa kuhusu mtandao wake wa huduma, takwimu za mauzo, na ratiba za utoaji wa bidhaa.

Kiini cha Madai ya SEBI

Ukaguzi huo wa kisheria unafuatia notisi ya kutoa maelezo (show-cause notice) iliyotolewa na SEBI mnamo Aprili 10, kufuatia uchunguzi wa taarifa zilizotolewa kati ya uorodheshaji wa Ola Electric wa Agosti 2024 na Mei 2025. Mamlaka hiyo inadai ukiukaji wa kanuni za Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) na Listing Obligations and Disclosure Requirements (LODR).

Kiini cha uchunguzi huo ni kutofautiana kati ya matangazo ya kampuni kwa umma na takwimu zake halisi za utendaji. Mnamo Desemba 2024, Ola Electric ilidai kuwa ingepanua mtandao wake hadi maeneo 4,000, ikiwa na zaidi ya maduka mapya 3,200 yaliyoko pamoja na vituo vya huduma. Hata hivyo, takwimu zilizowasilishwa kwa mamlaka hiyo zilionyesha kuwa matawi hayo yalikuwa 452 pekee kufikia Februari 19, 2025—ongezeko dogo la vituo 23 tu kutoka takwimu zake za IPO. SEBI ilibainisha kuwa matangazo haya, ikiwa ni pamoja na machapisho ya mitandao ya kijamii ya Aggarwal, yanaonekana kuwa yaliathiri hisia za soko, huku hisa zikipanda kwa 8.45% ndani ya siku moja mnamo Desemba 2, 2024.

Kutofautiana kwa Takwimu za Mauzo na Usajili

Nguzo nyingine kubwa ya uchunguzi huo inahusu jinsi Ola Electric ilivyotoa taarifa kuhusu utendaji wake sokoni. Mnamo Februari 2025, kampuni ilitangaza kuwa ilikuwa imeuza zaidi ya pikipiki na baiskeli za umeme (electric two-wheelers) 25,000 na kuwa na sehemu ya soko inayozidi 28%.

Uchunguzi wa SEBI ulibaini kuwa takwimu ya 25,207 kwa kweli ilikuwa inawakilisha "maagizo ya wateja yaliyothibitishwa" badala ya mauzo yaliyokamilika. Kati ya hizo, magari 5,341 pekee ndiyo yaliyosajiliwa rasmi, na mapato yakatambuliwa kwa ajili ya bidhaa 2,848 pekee. Mamlaka hiyo ilidai zaidi kuwa kampuni ilishindwa kutoa taarifa ya kutosha kuhusu mabadiliko kutoka kutoa taarifa za usajili kwenda kutoa taarifa za maagizo. Aidha, SEBI ilibainisha kuwa maagizo 3,333 baadaye yalifutwa, ikiwa ni pamoja na 2,560 kufikia Aprili 2025, ambayo hayakuwekwa wazi kwa soko.

Ucheleweshaji wa Utoaji wa Pikipiki ya Roadster

The third area of concern involves the "Roadster" motorcycle programme. SEBI alleged that Ola Electric failed to properly disclose delays and the status of pending prototype approvals, despite public commitments to begin deliveries by March 2025. Furthermore, the regulator highlighted a discrepancy where the company announced that Roadster X deliveries had commenced in May 2025, whereas actual deliveries reportedly did not begin until June, as later acknowledged by Aggarwal.

Ola Electric’s Stance: No Mala Fide Intent

In its settlement application filed on April 23, Ola Electric has opted to resolve the matter "without admission or denial" of the facts or legal conclusions. Sources close to the company maintain that there was no mala fide (bad faith) intent behind the reporting of sales and registration figures. The company emphasizes that it has detailed explanations for the discrepancies and is pursuing a settlement to prevent a drawn-out legal battle that could further impact investor confidence.

Key Takeaways