Auditors Flag Second Suspected Employee Fraud At Ola Electric Subsidiary

9 Sept 2026, 9:14 pm · 3d ago · 1 min read · Inc42

Ola Electric disclosed a second suspected employee fraud at its wholly owned subsidiary, Ola Electric Technologies (OET), in its FY26 annual report. Statutory auditors reported two suspected offenses involving sums exceeding ₹1 crore to the Ministry of Corporate Affairs via ADT-4 filings in July 2025 and June 2026. The disclosures omit employee identities, specific fraud mechanisms, and individual amounts. Auditors also issued a qualified opinion on internal financial controls, citing material weaknesses in inventory management. Specifically, raw materials and finished goods worth ₹153 crore out of ₹251 crore remained physically unverified at OET stores during FY26.