India, Sept. 9 -- Update | September 9, 16:48

Responding to the auditor's report on weak internal financial controls at one of its subsidiaries, Ola Electric said in an exchange filing that the observation was related to an isolated case of inventory verification at its subsidiary, Ola Electric Technologies. The company clarified that its auditors still gave a clean opinion on both standalone and consolidated financial statements.

Further, the Bhavish Aggarwal led company explained that the issue arose due to a temporary realignment of inventory processes under "Project Lakshya" in Q4 FY25 and there was no financial impact or misplacement of inventory.

Original | September 5, 22:03

In Ola Electric's FY25 annual report, its statutory a...