India, June 17 -- EV maker Ola Electric and its founder Bhavish Aggarwal have reportedly approached the markets regulator SEBI to settle a probe pertaining to alleged misleading disclosures made by the company around its sales, deliveries and service network expansion that may have inflated the company's stock price.

According to a report by ET, the company filed a settlement application on April 23, less than two weeks after receiving a show-cause notice (SCN) from the regulator. With the application, the company seeks to resolve the matter without admitting or denying the allegations.

The E2W maker is said to have held several discussions with SEBI officials since receiving the SCN. During these meetings, the company maintained that i...