New Delhi, July 6 -- Two key suppliers of Ola Electric Technologies Pvt. Ltd, the operating arm of listed Ola Electric Mobility Ltd that accounts for nearly all of its revenue, have moved the National Company Law Tribunal (NCLT) seeking insolvency proceedings over unpaid dues of more than Rs.40 crore, according to court filings reviewed by Mint and three people aware of the matter.

Sterling E-Mobility Solutions Ltd, the EV components arm of listed Sterling Tools Ltd, and Anevolve Mando eMobility Pvt Ltd, part of the Rs.20,000-crore listed Anand Group, have initiated proceedings against Ola Electric Technologies, alleging that the company failed to clear payments for components supplied to it.

As per Ola Electric Technologies' filings wi...