Hailstone The difficulties are showing no sign of abating. Now a notice has been received from the Central Consumer Protection Authority (CCPA). Let us tell you that the Central Consumer Protection Authority (CCPA) has issued a show cause notice to electric two-wheeler company Ola Electric for alleged violation of consumer rights, misleading advertising and unfair trade practices. Ola Electric said in a filing to the stock exchanges on Tuesday that it received a CCPA show cause notice through email on October 7. He has been asked to respond to the notice within 15 days.
Show cause notice issued
According to the company, CCPA has issued a show cause notice for alleged violation of consumer rights, misleading advertising and unfair trade practices. CCPA has said that the company will respond to the authority with the relevant documents within the prescribed timeline. The notice comes after a war of words broke out between Ola founder Bhavish Aggarwal and standup comedian Kunal Kamra on social media platform ‘X’ on Sunday over the after-sales services and quality of the company’s electric scooters. Kamra had raised the issue of after sales and service related issues of Ola Electric customers. He had also ‘tagged’ the official handle of the Department of Consumer Affairs.
There was a big fall in shares
There was a big fall in the shares of Ola Electric Mobility in recent days. In August this year, Ola Electric Mobility shares were listed at an issue price of Rs 76. After this the share price increased to the highest level of Rs 157.4. The stock has fallen by 43 percent from this level. However, today the stock closed at Rs 95.41 with a gain of 5 per cent after a long time.
