Ola Electric clarifies after Bhavish Aggarwal, executives booked over employee suicide

Bengaluru-based Ola Electric on Tuesday issued a clarificatory statement after company executives, including CEO Bhavish Aggarwal, were booked by Bengaluru Police in connection with the abetment to the suicide of a former employee. In a formal filing to stock exchanges on October 21, the company responded to queries regarding media reports on the incident.

In its detailed response, the EV maker confirmed that an FIR was recently registered in connection with the matter. The company, however, noted that it has challenged the FIR’s registration before the High Court of Karnataka.

 According to the filing, "protective orders have been passed in favor of Ola Electric and its officials". The company also clarified that "no charge sheet has been filed against the company or its officials".

Ola Electric expressed that it was deeply saddened by the unfortunate demise of its colleague, Aravind, and said that during his tenure, he never raised any complaint or grievance regarding his employment.

The filing further noted that the employee's role "did not involve any direct interaction with the company's top management, including the promoter". The company affirmed it is "fully cooperating with the authorities" and had "promptly facilitated the full and final settlement" to the deceased's family.

Ola Electric shares fell 4.25 per cent on Monday, closing at Rs 54.80 apiece on the BSE, ending a three-day winning streak.