Ola Electric shares drop 4% after execs named in suicide FIR
Ola Electric Mobility shares dropped 2.75 percent to close at 53.43 rupees after police filed charges against company executives over an employee death. Bengaluru authorities named chief executive Bhavish Aggarwal and senior manager Subrath Kumar Das in a criminal case linked to the September suicide of a 38-year-old worker. The employee left a 28-page note accusing supervisors of harassment before consuming poison at home. Police are investigating allegations of financial discrepancies totaling 17.46 lakh rupees and questionable transfers to the worker’s bank account.
The homologation division employee died after hospital treatment failed to save him. Authorities charged the executives under the abetment to suicide laws based on a complaint from the victim’s brother. The company challenged the charges in the Karnataka High Court and received protective orders for its officials. Management said the worker never filed complaints in three and a half years of employment and had no direct contact with senior leadership.
